Thunderbird Magazine, Volume 49, Number 2 1995

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The American
GTaduale
School oJ
International
Volume XLIX,
Networking on (ompuServe PAGE 14 • Executive Education PAGE 12 • Letter From Peru PAGE 40
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16.578 17.391 16,813 Oldsmobile 16,614
47.064 49.083 50.122
42,984
44,122 44.733 47.581 47,499 Changes in the financial
10,549 12,831 15.726 \7 ,925
1:1;991 12.937 13.886 12.184 services industry are both
11,112 11 .033 10.120 9.943 ~; ;;:- exciting-and unnerving,
21.345 30.522 34.589 37.381 ":j~u
24.351 24.911 26.131 29.143 25 Jl
12 14 40
Executive Ed Surfing Letter From
Excels Thunderbird Peru
Fifty years of experience Alumni worldwide "By day the military
is paying off-in about are benefiting from controlled the city, but
five million ways, CompuSeIVe's in the night Sendero
2
10
16
18
Thunderbird forum, ruled,"
News
New Construction, ABCs Open, National Rankings, and more,
Alumni Commentary
Why not create a multicurrency facility? asks Carl Deddens '81.
Charitable Remainder Trusts
Eliminate capital gains tax through a charitable trust.
Network & Updates
T'bird news from around the world,
Thunderbird E-Mail Directory
Admissions:
Alumni Relations:
Career Services:
Communication:
johnsor\j@mhs.t-bird,edu
combes@mhs,t-bird,edu
casej@mhs,t-bird.edu
croweIln@mhs,t-bird,edu
mcmillat@mhs,t-bird,edu
'Thunderbird Magazine
Volume XLIX, Issue 2
1995
A publication of the
A1unmi Relations Office of
'The American Graduate
School of International
Management, 15249 N, 59th
Avenue, Glendale, AZ
85306-6006
(602) 978-7135,
FAX (602) 978-6814
Assistant Vice President for
Communication and Editor:
Nelda S, Crowell
Managing Editor:
Thomas McMillan
Contributing Editor:
Panl Selthun
Contributing Writer:
Mary Mitchell
Conununication Secretary:
Gwen Swanson
Editorial and Production
Assistants:
Reid Behrendt
Jeanene Edwards
Kristi Howell
Andrew Sagartz
JeffUnze
Design:
Pat Kenny Graphic Design
Assistant Vice President
of A1unmi Relations
and Giving:
Susan Combe
Assistant Director of
Alumni Relations:
Michelle Olson
A1unmi Relations Staff:
Advertising Director:
Janet M, Mueller
Receptionist/Secretary:
Cindy Hepburn
Receptionist/Clerk:
Chris Mosakowski
Submissions may be
sent electronically to
Nelda S, Crowell, Editor,
tlu'ough the Internet:
crowelln@mhs,t-bird.edu or
through tile CompuServe
Thunderbird Forum
72662,3422.
ThlUlderbird Altmmi
Association 1994-1995
Board of Directors and
Officers:
Chairman of tile Board:
Stephen K. Orr '79
President:
H, Gene Wick '60
Vice Presidents:
Michael Dillon '78
Maarten Fleurke '79
Thomas D, Hobson '79
Linda J. Magoon '84
Acting Secretary:
Michelle Olson
Ex Officio Members:
Roy A. Herberger, Jr.
Jolm E. Berndt
Jolm C, Cook '79
President, Associated
Students Legislative Council
Board Members:
George T. DeBakey '73
Michael T. Dillon '78
Webb F. Elkins '63
Thomas L. Guetzke '86
Christopher P. Jolulson '86
Larry K. Mellinger '68
McDiarmid R. Messenger '72
Carolyn Polson O'Malley '70
Joseph A. O'Neill '80
Richard E, Ragsdale '67
Mike A. Santellanes, Sr, '60
Martha S. Van Gelder
Gypton '88
Honorary Board Members:
Joseph M. Klein '47
The Alumni Relations Office
has implemented a new data­base
software to better main­tain
and enhance ilie thunder­bird
network. A1unmi data
continues to be released to
the Thunderbird conununity
only for nonconunercial pur­poses.
Please contact A1unmi
Relations if you do not want
yOIU' name and preferred con­tact
information given to your
peers upon request.
Thunderbird, The American
Graduate School of Inter­national
Management, is com­mitted
to non-discriminatory
practices in employment,
admissions, and educational
programs and activities. thun­derbird
is an equal Opportlmi­ty,
affmnative action employ­er
tilat complies with applica­ble
federal, state and local
laws, statutes, orders and reg­ulations
prohibiting discrimi­nation
on ilie basis of race,
color, religion, national origin,
gender, age, disability and vet­eran
status,
r--------------------------------------------------------------
THINK OF IT AS
GOING BACK TO THUNDERBIRD.
(BUT NOT HAVING TO GO TO CLASS.)
How does a Thunderbird
alumni travel program
sound? Relaxing vacations
with other T'bird friends.
Win a free trip. Custom
trips built around your inter­national
interests. Win a
free trip. Culturally enrich­ing
travel. Win a free trip.
(Hear what we're saying?)
WE WANT TO GO WHERE
YOU WANT TO GO
Thunderbird wants to devel­op
a special alumni travel
program built around the
unique
interests of
T'birds.
And the
collective
bargaining
power of
27,000
alumni.
First we
want to
you want.
Exotic destinations away
from tourists? Active, "off the
beaten path" trips with small
groups of friends? Culturally
enriching adventures? Costa
Rica, India, Denmark, New
Zealand, Africa, Greece .... The
possibilities are limited only
by what you tell us you are
interested in!
TAKE 5 MINUTES,
WIN $500
We want to hear from you.
Your preferences are the
heart of this program. If you
take 5 minutes to complete
the travel questionnaire at
right, we'll enter your name
into a drawing for a week­end
getaway valued at $500
(or apply the prize to one of
our program trips!). All
responses are confidential
and will be used only for the
travel program. * Return by fax to:
(602, 978·6814
Describe your "dream" vacation:
How many days could you realistically take for that
"dream vacation?"
o Less than seven days o 16-20 days
o 7-10 days o 21-25 days
o 11-15 days o More than 25 days
How much money would you spend per person on
your "dream vacation" including airfare?
o Less than $1,000 0 $3,000-$3,999
o $1,000-$1,999 0 $4,000-$4,999
o $2,000-$2,999 0 Over $5,000
How many vacations do you usually take per year?
How much time is it practical for you to be on
vacation? ______________ _
in what style do you normally travel?
o Luxury 0 Moderate 0 inexpensive
How much would you be willing to pay for a
vacation?
Weekend package $ ______ _
One week long $ _____ _
Two weeks long $ ______ _
Longer (Specify) $ _____ _
Would you participate in a travel program designed
for Thunderbirds?
D Yes 0 No 0 Maybe
What would entice you to participate in a
Thunderbird travel program?
What areas of the world are you most interested in
touring with a group? indicate your interest level for
each, with 1 = high, 2 = moderate, 3 = low or none.
Africa Middle East
Asia
Australia
Canada
Central America
_ Eastern Europe
Mexico
South America
United States
Western Europe
Other (Specify)
Which of the following would be of interest to you?
(Check all that apply.)
o Cultural sites
o Historical sites
o Natural wonders
o Tours that would enhance business
o Backpacking tours
o Traveling with special interest groups
o Luxury hotels
o Meeting local people
o Shopping for locally produced items o Other (Specify) _________ _
What mode of travel do you enjoy?
(Check all that apply.)
o Air o Bus
o Train o Biking
o Boat o Walking
o Other (Specify)
Would you be interested in a tour of the
Southwestern United States in conjunction with the
School's homecoming events in November?
D Yes 0 No 0 Maybe
Suggestions:
Would you enjoy traveling with a group that
included: (Check all that apply.)
o Thunderbird alumni only
o Thunderbird alumni and family members
18 years or older
o Thunderbird alumni and family members
under age 18
o Thunderbird students
o Thunderbird faculty
o Other professionals who are experts in the
region to be traveled
o Other (Describe)
Would you be interested in a global business
seminar segment with your tour?
DYes 0 No 0 Maybe
if yes, what topics would be of interest to you?
Would you volunteer to assist with groups of T'bird
alumni visiting to learn about your city, country or
region of the world?
D Yes 0 No 0 Maybe
indicate the percentage of unstructured time you
prefer on a tour:
o None
o Less than 25%
0 25%
050% o 75%
o More than 75%
Please attach any additianal comments.
Name ______________ _
Class year ___ _
Home address, ___________ _
Employer ____________ _
Business address, ____________ _
Title, ______________ _
Fax # ______________ _
Return by fax to (602) 978-6814 or mail to
Thunderbird, Alumni Relations, 15249 N.
59th Avenue, Glendale, AZ 85306-6006
L _____________________________________________________ ______________ ~
New Construction Projects Create
More Modem, Functional Campus
New Residence Hall
Replaces B Dorm
A new residence hall will
soon replace the old "B Dorm"
which was razed in December.
The modern facility will follow
the prototype of the new Resi­dence
Hall A, completed in 1992.
The two-story building will have
56 rooms, nearly double the size
of the original B Dorm. Con­struction
will begin in July with
completion expected in January,
1996.
Even before the new resi­dence
hall is completed, the
central quad will take on a fresh
look with construction of an
amphitheater-style activity area.
The new area will be used for
concerts, club activities, barbe­cues,
receptions, and small spe­cial
events. The swimming pool
is also being renovated, includ­ing
the installation of new decks
and landscaping.
THUNDERBIRD XLIX 12 I 1995
The planned addition of the
new dorm and dining facility
(see below) makes a total of
eight new construction projects
completed in the past five years
at Thunderbird. Other recent
campus improvements include
year-round floral landscaping;
the remodeling of Founders
Hall, the old auditOrium, and the
Bookstore area; and a new main
entrance.
Simulated Trading Floor
Planned
The recent transfer of all
library functions to the Inter­national
Business Information
Centre (IBIC) has opened the
door for new uses of the old
Barton Kyle Yount III '71, grandson
of the School's founder, and his son
visited the former Yount Memorial
Library in March.
library building. Interior renova­tion
plans for the Barton Kyle
Yount Building include a multi­media
center, a simulated trad­ing
floor, several seminar and
meeting rooms, a publications
office for academic journals,
and separate offices and class­rooms.
The trading floor will simu­late
financial and foreign cur­rency
and commodity trading
activity for the classroom. "The
floor will simulate the real trad­ing
activity that graduates might
experience in the working
world, complete with electronic
displays around the room," says
finance professor John Mathis.
The Multimedia Center, cur­rently
housed in the former
president's house, will serve as
a resource for faculty develop­ment
of multimedia applications
as well as other campus applica­tions.
Office space in the remodeled
Yount building will accommo­date
the administrative staff of
Information Technology Ser­vices.
The renovation project,
which is expected to take
approximately 10 months, will
begin this fall.
Food Court, Thunderbird
Style
A new dining facility will
introduce a contemporary con­cept
of food service to Thunder­bird-
the food court. The new
facility is expected to include
cafeteria-style service, as well
as outlets of popular fast food
franchises. Plans also include
one or more sections for formal
food service at individual tables.
The food facility, which will
replace both the Crossroads
Coffee Shop and the Dining
Hall, will be located between
the Tower Building and the stor­age
hangar.
Tentative plans for the old
dining hall are to use it for exec­utive
education, one of the
fastest growing areas at Thun­derbird,
as well as study rooms
and office space. Construction
is expected to start in the fall of
1995, with completion in time
for the 50th anniversary in the
fall of 1996.
Changes in Southwest
Corner of Campus
All but two of the old faculty
residences located on the south­west
corner of campus have
been sold, hoisted onto trans­port
flats, and removed for use
elsewhere. The area is being
redesigned as a garden with
attractive desert landscaping
and possibly some picnic areas.
Plans are for the former presi­dent's
home to house the Thun­derbird
archives project, as well
as a reception area, meeting
facility, and retreat center.
The former home of the late
Berger Erickson is currently
being used as the executive
offices of the YMCA. Future
plans call for construction of a
YMCA adult fitness center,
including a swinuning pool, aer­obics
room, weight center, and
racquetball courts.
-By Nelda Crowell
Thunderbird Leapfrogs
Wharton, Harvard in
U.S. News Ranking
u.s. News & World Report
ranked Thunderbird among top
B-schools for international busi­ness
in its annual survey of
"America's Best Graduate
Schools." This is the first year
Thunderbird was eligible for
ranking, as a result of accredita­tion
last April by the AACSB
(American Assembly of Colle­giate
Schools of Business).
"We're proud that the employ­ers'
perceptions of the institu­tion
are close to our objectives,"
said President Herberger of
Thunderbird's number two
ranking ahead of Wharton (#3),
Columbia (#4), and Harvard
(#5). "Now all we have to do is
get the deans and MBA program
heads to recognize the differ­ences,"
he added-in reference
to The University of South
Carolina's number one ranking.
The ranking was based on a rep­utational
survey of corporate
recruiters, business school
deans, and MBA program heads.
~. '<S:NEWS - .- weNtI.n .'RPOtIT _
Business Centers Open
in Russia
New developments at Thun­derbird's
American Business
Centers (ABCs) in Russia are
making it easier for Western
companies to pursue business
opportunities there. Recent
progress at the two business
centers in Nizhny Novgorod and
Volgograd includes:
• Opening of office space in
both Russian cities, as well as
the hiring of full staff-grand
CAMPUS NEWS
openings are planned for June
29 and 30.
• A planned trade mission
June 11-23 for companies seek­ing
to expand export and invest­ment
presence in Russia. The
mission will provide pre­arranged
meetings with pre­screened
business partners,
local officials, and regional
experts on law and investment.
Both Nizhny Novgorod and
Volgograd are at the forefront of
Russian privatization and eco­nomic
reform efforts, and have
been identified as premier areas
for Western trade and invest­ment
in Russia.
Over 250 companies have
contacted the Thunderbird ABC
office since June, primarily from
the manufacturing, consulting,
and export/import industries.
Companies are most interested
in identifying new business
opportunities through the ABCs
and accessing specialized mar­ket
reports. Companies also
want help locating agents and
distributors, identifying viable
joint ventures, and finding
Russian business partners.
Nearly a third of the companies
contacting Thunderbird already
have a presence in Russia.
Funded for $1 million each,
the Thunderbird ABCs were
established by the U.S. Depart­ment
of Commerce to help
American firms explore trade
and investment opportunities in
Russia Thunderbird is the only
educational institution currently
operating an ABC.
For more information:
• Nizhny Novgorod
011-7-8312-37-22-13 (phone/fax)
e-mail abcnn@abc.nnov.su
• Volgograd
011-7-8442-33-5845 (phone/fax)
e-mail abcV@abc.tsaritsyn.su
• Thunderbird
602-978-7400
"I think that Mexico can truly become
a modern country and re-establish its
credibility among the nations of the
world," Nicolas Escalante Barrett,
Consul General of Mexico, told stu­dents
in Professor Joaquim Duarte's
Strategic Management in Latin
America class in February.
Executive Education
Ranks 5th Worldwide
Thunderbird ranked fifth
among 55 universities in a
worldwide survey of customized
executive education programs.
Thunderbird earned the top
ranking from Brickers Inter­national
Directory 1995, a lead­ing
information source for the
executive education industry.
"The ranking confirms that we
are providing relevant and prag­matic
programs to a significant
cross-section of global firms,"
says Ed Barrett, vice president
for executive education.
Customized programs involve
partnerships with individual
firms and groups of companies
on long-term management
development initiatives. (See
related story on pg. 12.)
India's Road to
Economic Reform
"McDonald's, Coca Cola,
even MTV may come. But that is
not economic reform," Siddhar­tha
Shankar Ray, Indian ambas­sador
to the U.S., told students
in a lecture about his country's
drive towards a capitalist econ­omy.
"India's reform is a gigan­tic
rethinking .... we are on the
road to change in a very big
way-economically, industri­ally,
and politically," he added.
Ambassador Ray, a senior mem­ber
of the National Congress
that ushered in India's eco­nomic
reforms of 1991, helped
arrange the successful meeting
between President Clinton and
Indian Prime Minister Nara­simha
Rao that finally reestab­lished
relations between the
two nations.
Ambassador Ray
Student Arpana Agarwal explains
what life is like in India to local
school children taking part in
INTERFEST. Over 900 children
attended the Thunderbird festival,
which promotes cultural diversity.
THUNDERBIRD XLIX 12 / 1995
Search on for Alumni
Affairs Director
Thunderbird is conducting a
national search for director of
alumni affairs, following the res­ignation
of Bobbie Boyd in
March. Bobbie, who served
Thunderbird for 11 years, was
responsible for building the
School's alumni program to its
current global outreach of
27,000 alumni. Bobbie directed
alumni affairs from 1985 to 1995,
and served as coordinator of
development services from 1983
to 1985.
Thunderbird Starts
New Journal
A new journal devoted exclu­sively
to international manage­ment
has been launched by
Thunderbird. "We have one of
the strongest international man­agement
faculty in the world,
and felt the field needed a spe­cialized
journal," said Professor
of World Business Dr. David
Ricks, editor-in-chief of the new
Journal of International Man­agem
ent. The quarterly will
focus on international strategic
management, organizational
behavior and design, and com­parative
management. The
Spring 1995 issue includes arti­cles
on "Keeping High Perform­ers
after International
Assignments" and "Global Orga­nizational
Behavior: Going
Beyond Tradition." Dr. J. Stewart
Black, associate professor of
management, and Dr. Allen J.
Morrison, associate professor of
policy and strategy, are editors.
IO U . H A L O P
Intem~~~~_Ma~3gement
4 THUNDERBIRD XLIX 121 1995
CAMPUS NEWS
Asian Reunion in Hong Kong
Dr. the Honorable David KP. Li (at left), CBE, director and
chief executive of the Bank of East Asia, Ltd. in Hong Kong,
will speak at the alumni dinner in Hong Kong during the Asian
reunion, April 28-30. Dr. Li has been a member of the Thunder­bird
Board of Trustees since 1993. Dr. Li and Merle A Hinrichs
'65 (at right), chairman of Asian Sources Media Group in Hong
Kong and a Thunderbird trustee since 1991, have provided
valuable assistance to the organizers of the reunion.
Chechnya
Undermining Foreign
Investment?
The conflict in Chechnya is
damaging Russia's efforts to sell
outside investors on its political
stability-and undermining for­eign
investment in the country.
That's the analysis Visiting
Professor Linda Wetzel, who
spent 16 years with the CIA as a
Soviet analyst, made at a recent
discussion of the implications of
the conflict on doing business in
Russia Wetzel taught the course
Russia in the New World Order
as CIA Officer-in-Residence at
Thunderbird.
Ambassador's Ball
The Ambassador's Ball
celebrating the beginning of
Thunderbird's 50th Anniversary.
Saturday, October 28, 1995
Scottsdale, Arizona
Proceeds to benefit the
Thunderbird Scholarship Fund.
Sponsored by the Arizona
Consular Corps.
For Information,
Call 602-978-7761
Global Market
Growing in Popularity
Thunderbird's new Global
Market, which offers ethnic art
from all over the world, is keep­ing
manager and art expert
Dean Warner '57 very busy. The
Global Market sells items on
consignment from students.
Thirty percent of each sale sup­ports
a scholarship fund. Lisa
Vogel '83 bought a basket from
Botswana while visiting on
vacation: "I think it's a great
idea for a scholarship fund. I
remember a lot of struggling
students when I was here."
Warner is also exploring selling
items through mail-order.
In The News
India's BusinessWorld
Features Recent Grads
One of India's leading busi­ness
magazines, Business­World,
featured two T'birds on
the cover of its December issue.
Vishal Gulati '94 and Aalind
Jindal '93 were featured as
examples of Indian companies
and multinational subsidiaries
recruiting managerial talent at
leading U.S. and U.K universi­ties.
"It's an opportunity to get
in at the ground floor and grow
with the market," Gulati told
BW about his decision to return
to India Both Gulati and Jindal
were recruited from Thunder­bird
by Citibank's Indian opera­tions.
Alma Modem
(From CompuServe magazine,
February 1995)
"Ever wonder what's going
on at your alma mater these
days? .. . Alumni Advantage, a
new program targeting acade­mic
institutions, gives graduates
access to their own area online,
where they can exchange infor­mation
for business or plea­sure
.... Thunderbird founded its
forum in April 1994, and alums
from as far as Japan and Saudi
Arabia have used it for every­thing
from tracking down old
friends to learning more about
market conditions in other
countries. "
"Don't Overlook Thunderbird"
Says Business Week
"Corporate recruiters con­sider
the American Graduate
School of International Manage­ment
in Glendale, Arizona a
leader in global business,"
advised Business Week in its
February 13 issue. Business
Week also noted (in a somewhat
Johnny-corne-lately fashion) a
fact that Thunderbird has
known for 50 years: "As the
worldwide business community
becomes more intertwined,
international perspective will be
a staple of B-school education."
Recognition comes slowly
sometimes.
CAMPUS NEWS
Wmterim '95 Expands to Chile, United Arab Emirates
Students visit Jebel Ali Free Zone, Moscow Stock Exchange
Grabbing passports and lug­gage,
T'birds raced to the all'port
as this year's Winterim program
commenced. The special three­week
January program offers
students concentrated studies in
15 courses taught on-campus
and 8 programs overseas.
Destinations included Russia,
Chile and Peru, Washington,
D.C., and the United Arab Emir­ates,
among others.
Russia:
Moscow Stock Exchange
Braving the Russian winter,
six students, one visiting profes­sor
from Mexico, and Thun-
Muscovite street vendor holds tradi­tional
hand-painted plate, purchased
by Sam Rosenbalm '95.
derbird professor Dr. Walter
Tuman flew to Moscow in Jan­uary
to experience a number of
cultural firsts.
According to Sam Rosenbalm
'95, Thunderbird was one of the
first Western groups allowed to
go skiing at Pushkino Resort on
the outskirts of Moscow. Previ­ously,
Pushkino was reserved
for the exclusive use of the
Central Committee of the Com­munist
Party and visiting heads
of state.
The students also toured the
newly instituted Moscow Stock
Exchange, an organization
whose existence was virtually
unthinkable under the Soviet
regime.
Program lectures explored
Russian culture and politics, as
well as business law, joint ven­tures,
foreign investments and
trade.
The Russia Winterim was
offered in coI\iunction with the
International Business School at
the Moscow State Institute of
International Relations.
Chile and Peru:
Economist's Round Table
Winterim in Chile and Peru
was a brand new course
cosponsored by the Inter­national
Studies and the Modern
Languages departments. Twen­ty
T'birds were led by Dr. Roy
Nelson and Dr. Wanda Lauter­born.
In Chile, participants visited
the Chilean Stock Exchange,
Unilever of Chile, and Chiquita's
FRUPAC packing plant. Stu­dents
also attended The Econ­omist's
Round Table on capital
markets and financial invest­ment
issues.
In Peru, the Thunderbird
group visited Lima's SIMA Peru
Callao shipping yards and the
Centro de altos Estudio
Militores. Participants also
attended lectures by Peruvian
Congressman Francisco Tudela,
and Glenn Cameron '90 of the
American Embassy in Lima
Washington D.C.:
Largest Group Ever
Dr. Llewellyn Howell and Dr.
Roe Goddard led 70 students
(the largest group ever) to the
nation's capital to participate in
the U.S. Foreign Economic
Policy and the new Global
Environment course.
"This course really enhanced
what we learned in our Inter­national
Political Economy
class," said participant Margaret
Raihl '95. The group conducted
on-site inspections of the IMF,
the World Bank, and MIGA,
learning how those institutions
work and how their policies
have changed over time.
The students also were guests
of the Embassy of Japan, right
after the Kobe earthquake. "In
addition to the earthquake, they
discussed the trade imbalance,
their trade policies and how the
rise of economic power in China
and Korea will affect Japan,"
noted Raihl.
United Arab Emirates:
Jebel Ali Free Zone
The United Arab Emirates,
which forms the southeastern
shore of the Persian Gulf, was
the classroom for Dr. Issa
Peters' Winterim program. The
course emphasized the role of
oil in the Middle East and in the
economic development of the
region.
The group stayed in Dubai, a
major trading port on the Gulf
and also the location of the Jebel
Ali Free Zone, a huge shipping
and cargo complex complete
with port facilities and an all'port.
"With no tariffs or duties, the
free zone is the reason Dubai is
the trade center for the Middle
East," commented Barbara
Cornett '95.
-By Jeanene Edwards
-c- - - -5- - - - - - - - - - -o;:=to~ffi7e;c;:uni:'ti:,;~e;ir:c=p:' -e· c;>mpu erve Fax to (602) 978-8238 15249 N. 59th Avenue, Glendale, AZ 85306-6007 '"
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THUNDERBIRD XUX /21 1995
A troubling wake-up
call from the financial
markets alerts the
world to a new order.
Revolution might be too strong a word to
accurately describe what is going on in
today's global financial markets, but it
certainly captures the feeling of the moment.
Over the past year one shock wave after another
rippled through the world financial industry,
each time with relatively little warning.
Consider the following 1994 milestones in disas­ter:
• Hedge fund manager George Soros,
who in 1992 captured a billion dollars in three
days by edging Great Britain out of the
European Exchange Rate System, lost $600 mil­lion
when interest rates jumped unexpectedly.
• Derivative disasters cost Procter &
Gamble reported losses of $157 mil­lion,
Air Products & Chemicals $122
million, and Orange County, Calif. $1.7
billion in public monies.
• Mexico, long considered a model
for emerging markets, was forced to
seek a $53 billion bailout after debt
and lack of hard cash sent the peso
crashing.
More recently two veteran institu­tions
joined the disaster club: Barings
PLC merchant bank was destroyed
overnight by $1.3 billion in losses on
derivatives incurred by 28-year-old
futures trader Nick Leeson. And in
THUNDERBIRD XLIX 121 1995
March that leader of global currency,
the U.S. dollar, crashed hard against
the German mark as investors and
traders retreated from the dollar's long­standing
monopoly as the currency of
choice.
What's going on? Is this year-long
volatility a sign of imminent collapse?
Or just the growing pains of a new
world financial order? Probably the lat­ter,
says Dr. John Mathis, professor of
international banking and finance .
While disasters of the past year high­light
new risks to guard against, "over­all
the financial arena is sound," says
Mathis. In fact, experts say the arena
•
has become so global, so immense, so
interconnected-and so market dri­ven-
that perhaps no single event is
strong enough to collapse the entire
system. "The fmancial markets have
become much deeper and richer," adds
Mathis.
And why wouldn't this be so? With
literally trillions of dollars coursing
through its veins, the market appears
to be developing its own system of
punishment and reward, checks and
balances. Unlike the world of Bretton
Woods, the new financial order no
longer recognizes the sovereignty of
specific countries, currencies, or mar-
Pains
kets. Instead, it sees the entire global
economic system as its playground. In
a sense, the new world market itself is
developing its own sovereignty: Walls
that once existed between markets,
countries, and currencies are being
pulled 90wn, just like the Berlin Wall.
"The world is changing, and the
shifts in markets are no longer just
domestic, they are global," notes Chris
Matlon '66, senior vice president of
Chase Manhattan Bank.
The world currency crisis this past
March provides a good example of
how the new global order is controlling
countries, capital, and trading, accord-ing
to Dr. Taeho Kim,
professor of economics
and international bank­ing.
Amid fear of the
crashing peso and an
unresponsive U.S.
Federal Reserve, global
money managers didn't
hesitate to dump Euro­currencies
and dollars in
favor of the more robust
German mark. By shift­ing
in record numbers
away from the dollar to
the stability and safety of
the Bundesbank, traders
generated a massive shift
in global currency flows
and economic power.
Turns out that the U.S., long the preem­inent
repository of the world's reserve
currency, is just another player at the
table in this new global order. "A water­shed
in global finance that had been a
long time coming," said Business Week
of this historical shift in the global
financial order.
Who or what is behind this shift?
Indicators suggest that the shift is a
result of the millions of individuals and
institutions who, in the boom of the
early 1990s, eagerly pumped their
money into the surging and enor­mously
profitable global markets. This
new ruling class is a fundamentally dif-ferent,
more demanding, more profit­hungry
master than the banks and
development agencies that in the past
provided the world's capital supply.
Perhaps more important, it is a global
class of investors that, thanks to tech­nological
leaps, can act rapidly and
with more information than ever
before in history. In the new order
money flows very quickly, with mil­lions,
even billions moving in or out of
an economy in seconds. "In order to
survive in to day's trading world, you
definitely need a strong understanding
of the complex interrelationship
between international economics and
business," says Emilio Lamar '78,
managing director of International
Emerging Markets at Merrill Lynch.
European Union. Of course the U.S.
is certainly not the only country in
reach of the long arm of the new finan­ciallaw.
According to Chris Johnson
'86 of the Bank of Nova Scotia, many
European nations are experiencing
similar negative effects of currency
gyrations and shifting investments.
Like their cousin the dollar, currencies
in Britain, Spain, France and Italy are
being driven to record lows against
the mark. And as the mark's strength
grows, the European Union's plans for
a unified European economy with
open trade borders, a stable unified
currency, and controlled inflation are
in doubt. Many countries are having to
defend against the mark by hiking
interest rates. Not to mention the
harm being done to the European
free-trade zone as a result of mis­aligned
currencies. Essentially, trade
barriers created by the swings in
devaluations of currencies and the
rise in interest rates (installed as pro­tective
measures against the mark)
will eventually cause de facto trade
wars among EU members.
"These misalignments are creating
opportunities for cross-border acquisi­tions,"
says Johnson. "Many companies
are looking to take advantage of the sit­uation.
That might be good or bad,
depending on what side of the acquisi­tion
you're on." Ironically, Germany
itself might also be hurt by the mark's
gravitational success, as German
exports (a vital part of Europe's recov­ery
plan) will surely be restrained and
economic recovery slowed. How
Europe will be able to achieve its
THUNDERBIRD XLIX /2 / 1995
Leaders in Global Finance
Skill requirements for the finance profes­sion
have significantly changed over the
past decade as globalization, deregulation,
and new technologies have altered the
industry's landscape. At Thunderbird, the
finance curriculum has both adapted to
those changes-and kept its core focus on
developing solid managers.
"We approach the financial curriculum
from a managerial perspective," says Dr.
Michael Moffett, associate professor of
finance. "We recognize that there are new
techniques and technologies, but ultimately
these always come down to the hands of
the user. Our focus is on developing solid
managerial skills and knowledge, not finan­cial
fashion. "
Today Thunderbird offers students a rig­orous
set of fmancial courses that build
core analytical skills as well as in-depth
knowledge of emerging business practices.
"Deep understanding of financial engineer­ing
wasn't needed five years ago." notes
Moffett. "Today all size firms in all coun­tries
have to deal with these issues, and so
do our graduates."
Thunderbird's financial curriculum fea­tures
advanced courses in global banking,
commodity price risk management, finan­cial
engineering and derivatives, interna­tional
securities investment, multinational
corporate finance, global portfolio manage­ment,
international investment banking,
and financial statement analysis.
According to Moffett, this international
8 THUNDER81RD XUX 12 I 1995
Dr. Michael Moffett
financial curriculum is one of the strongest
in education today: "We recently approved
the advanced corporate finance course as a
requirement of all, students. We have a mix
of 5000-level electives that exceeds any
major school in the country. And we've got
the FORAD model game (part of multina­tional
corporate finance) which is unique in
North America
Risk Management. One curriculum area in
which Thunderbird stands alone is risk
management. "I don't know of any other
school that covers risk management like we
do," says Dr. Llewellyn Howell, chairman of
the International Studies Department at
Thunderbird. "Other schools have chapters
in books or offer it as part of a course, but
nothing like the cross-functional integration
here."
Thunderbird's curriculum integrates
financial skills and lmowledge with a care­ful
study of the political, economical, and
cultural dimensions of international mar­kets.
The result is that students address the
question of financial risk management from
all sides.
A good example is Dr. Howell's course in
Political Risk and Global Change. "We
approach the risk analysis from a quantita­tive
perspective, which is essential to effec­tive
risk management. You can't just guess
risk by intuition. We want our students to
lmow what risk is, how to measure it, and
how to minimize it, " notes Howell.
dream of fonning a seamless, unified
economy in the face of the new finan­cial
order is yet to be seen. What is cer­tain
at the moment is that the world
market itself is expressing doubt about
Europe's shot at economic unification.
Emerging Markets. Growing pains
are being felt in many emerging mar­kets
as well. Take Mexico for example.
Before the peso lost half its value at the
end of 1994, Mexico was viewed by
many investors as the "model" emerg­ing
market of the new world economic
order. Mexico's U.S.-trained tech­nocrats
did everything that investors
asked for in order to be rewarded with
strong currencies and thriving domes­tic
markets. They opened the country's
markets to free trade and foreign
investment, they reduced inflation, and
they privatized state enterprises. This
marriage of convenience was short
lived, however.
In December, as Mexico depleted its
hard-currency reserves in an attempt
to bolster the peso, foreign invest­ments-
the same ones that instigated
the boom market-deserted the coun­try.
Even now, in spite of a $53 billion
U.S. bailout, the peso has not regained
its former stature as wunderki nd. And
the realization is setting in that as
emerging markets develop, investors
can expect periodic bouts of volatility
and panic. "Opportunities in emerging
markets offer some of the best growth
and return potential, but also some of
the highest risk because of changing
political, social and economic factors,"
says David Hu '82, managing director
of the Emerging Markets Debt Group
at Smith Barney.
Unfortunately for Mexico, the peso
crisis has given everyone else a first
look at just how risky and fickle the
new global financial order is, particu­larly
when proper safeguards and con­trols
are left lying on the investment
drawing board. According to Carlos
Roberto Ortiz Nascimento '79,
director of Banco Real de Investimento
in Brazil, the probability of a similar
crisis occurring in Brazil are unlikely
precisely because his country has built
in close to $40 billion in cash reserves
as a safeguard. Still, emerging market
countries need to be very careful. "The
ramifications for mistakes are gigantic
and often instant," says Dr. Llewellyn
Howell, chairman of the International
Studies Department and leader of
Thunderbird's Political Risk and
Global Change course.
While the new global order may be
fickle, it is also predictable to a certain
extent. As the saying goes: If you build
it, they will come. In late April, Chicago
Mercantile Exchange traders plan to
revive the peso futures market in an
attempt to restore some stability to the
battered Mexican currency. Country
experts are hoping that futures trading
and other market-stabilizing mecha­nisms
will salvage the economy by
encouraging liquidity in the market,
reducing the volatility of the exchange
rate, and hastening the peso's recovery.
Recovery or not, the Mexican
episode points out a potentially
disturbing fact about how the
new financial order will treat
other emerging markets. "Six
months ago we were the darling
of the market," Ariel Buira Seira,
de~uty governor of the central
bank, told Business Week. "Then
they went to the opposite
extreme. This is very unfair."
Clearly fairness is not an invest­ment
criteria of the new financial
markets.
Derivatives. A common thread
running throughout last year's
financial disasters was the
mishaps with derivatives, now
standard equipment for both
financial institutions and compa­nies.
Considered one of the most
powerful tools of the new finan­cial
order, derivatives are per­haps
the greatest innovation in
the financial markets in the past
quarter century. "Derivatives will
continue to be part of the finan­cial
landscape for a long time,"
says Carl Deddens '81, vice
president and treasurer at
Revlon.
On a basic level derivatives are finan­cial
contracts written between two par­ties,
and have a value that is "derived"
from the value of some underlying
financial element or indicator, such as
commodities or interest rates or a stock
market index. Of course, that simplistic
description belies the dangerous nature
of derivatives and their potential for
causing disaster in the new fmancial
markets.
When utilized wisely, derivatives
make the new financial world simpler,
because they give their buyers the abil­ity
to manage and mitigate risk. But
derivatives can also be a doubl~dged
sword of immense power. In fact, in
wrong or inexperienced hands, deriva­tives
are a powerful leveraged mecha­nism
for actually creating risk.
"In-depth understanding of fmancial
engineering wasn't needed five years
ago. Today, all size firms in all countries
have to deal with these issues," says Dr.
Michael Moffett, associate professor
of finance.
To begin with, given the bewildering
variety and complexity of customized
derivatives, trying to value these instru-ments
is a true Herculean effort. Then
there is the tendency of the global mar­kets
to do what they wish, including an
occasional bout of turbulence-and
that means derivative disaster. The bad
guy last year was interest rates, which
rose with a suddenness unexpected by
most of the world. Unfortunately,
many companies are taking on com­plex
derivatives with dollar signs in
mind, believing that they can outguess
the market's movements.
Managing Risk. From a broader mar­ket
perspective, too many corporate
managers and banking institutions
are neglecting to understand the enor­mous
complexity and potential for
disaster of these highly-leveraged
instruments. Lack of controls in the
new order is all the more dangerous
when dealing with financial instru­ments
whose value can fluctuate
wildly on even minor movements in
currency prices, interest rates, or
stock indexes. And of course global­ization
and the speed with which
transactions can move today mean
that once problems occur, they can
spread more quickly than ever before.
"I've seen a growing con­cern
among companies in
how they are evaluating their
foreign exchange and deriva­tives
risks as a result of these
shifts in the global market­place."
says Chris Johnson.
"Many companies are ques­tioning
the wisdom of assess­ing
corporate-wide risk from
several offices scattered
around the world."
While market regulators
have resolutely toughened up
their act, it remains in ques­tion
whether their attempts
to neutralize the problems
are a match for the actual
seriousness of the problem.
It is also in question as to
who is leading whom:
"Regulators are mostly react­ing
to changes in the market
place rather than leading,"
says Dr. Kim.
So what are the lessons to
be learned about the new
global financial order from
the derivatives' debacles, as
well as from the other finan­cial
disasters of the past
year? Lesson number one:
Don't underestimate the power and
reach of the new financial order.
Lesson number two: Expect the
global market to dish out its own dis­cipline,
often in swift and severe
doses. The world is connected now.
Growing pains are inevitable.
The financial world has changed­and
that means the whole world has
changed. •
- By Tlwmas McMiUan
THUNDERBIRD XUX 121 1995
ALUMNI COMMENTARY
Why Not Create A Global Multicurrency Facility?
• By Carl. J. DedJtens '81, Vice President and Treasurer, Revlon Inc.
In this age of techno-globalization, the existence of an
international multicurrency facility that would allow
companies to shift easily between currencies and coun­tries
to meet financing needs would seem a given.
Not so. Consider the facts: The majority of international
corporations finance worldwide operations through a multi­farious
collection of domestic revolving credit facilities,
commercial paper programs, and foreign credit lines. Often
these services are provided by a diverse group of financial
institutions which have no common link in anyone credit
agreement This often translates into divergent inter-creditor
interests. In addition, those few companies that do utilize
global credit facilities are usually provided with only a lim­ited
number of borrowing currencies and funding options.
Why this apparent lack of flexibility? And, more impor­tantly,
what can financial executives do to obtain greater lat­itude
in financing arrangements?
The general answer to the first question is: that's the way
it's always been. And history suggests that unless pushed by
demand, the market has no imperative to respond with a
more flexible product. Maybe that's not so unreasonable.
Fact is, providing truly global fmancing arrangements is
complicated, both from a logistical and documentation
standpoint.
For example, large financial institutions can fairly easily
provide funding in major currencies such as sterling,
German marks, or Canadian dollars. However, providing
availability in Italian lire of New Zealand dollars-that's
another story. Many financial institutions either cannot (or
simply do not) want to be bothered with providing these
options. And just how does one han­dle
the mechanics of an agent bank
providing notices to a large group of
participants for the next day fund­ing
requirements-across different
time zones and multiple currencies?
Or the potential tax and legal impli­cations
of documenting cross-bor­der
lending arrangements?
Add to this list of woes the limita­tions
faced by some new players in
the financial markets. Remember,
money center banks are not the only
providers of "bank" loans today.
Corporations are borrowing their
term and revolving credit loan requirements from many
players: mutual funds, finance companies, U.S. branches of
foreign banks (four of the top ten banks in the U.S. are so­called
"super-regional" banks). The problem is many of
these players do not have capabilities in foreign exchange
markets, or have limitations imposed by charters or regula­tory
agencies.
So if a multicurrency financing facility is so complicated,
why would we want such an animal in the first place? The
answer is simple: It has the potential to do the job better,
much better.
1 0 THUNDERBIRD XLIX 12 I 1995
By rolling up a company's bank requirements into one
global package, management of the function becomes less
complicated. This can be particularly important if you are
doing business in 20 to 30 different countries, each with its
own separately negotiated and documented credit agree­ments,
all maturing at different times.
In addition, creating a consolidated
global facility could attract major finan­cial
institutions that otherwise would
not want to provide a series of smaller
credits. A combined facility provides
uniform pricing to all of a company's
subsidiaries. Reporting requirements
are also simplified by dealing with a
single agent bank. Moreover, having a
consolidated bank group eliminates
the intercreditor conflicts which can
exist with separate facilities.
From a financial standpoint, a global
currency facility ensures immediate
funding availability as a company
expands its existing business in a given
"Whywould
we want
such an
animal?
Simple:
It has the
potential to
do the job
better, much
better."
country or enters new markets. It also allows a company to
quickly respond to financial engineering opportunities. For
example, a company can quickly increase or decrease a sulr
sidiary's debt level to deal with a specific tax consideration
or capital structure requirement
The answer to the second question, "What can a financial
executive do to obtain increased flexibility?" is simple: Be
creative and forceful in dealing with your bankers.
Commercial banks today want to
earn advisory fees more than they
want to make loans. And they are
constantly bringing new and sophis­ticated
financial products to the
market place. If pushed by the cus­tomer,
odds are they can solve the
logistical problems associated with
a global facility.
Take the problem of institutions
not being able to fund in a particular
currency. This can be dealt with by
using a "fronting bank" concept,
where all loans in a particular cur­rency
are made by a single member
of the bank group. The other syndicate members share in
the loan income and have a contingent obligation to the
fronting bank (as if they had actually made a loan). This
arrangement also eliminates the need to provide borrowing
notices to multiple participants in different time zones.
Lastly, the issue of new financial players not being able to
participate in multicurrency financing at all can be solved by
creating separate entities that are designated strictly for
domestic U.S. dollar usage.
All said, the benefits of a global multicurrency facility far
outweigh the costs. •
~_5_0_ _Y_ E_A_RS_ O_F _G_ LO_ B_ A_L_ FR_IE_N_D_ SH _I_P _~ ~
IITHUNDERBIRD PRODUCES GRADUATES WITH THE
UNDERSTANDING AND SENSITIVITY TO MAKE A
GENUINE CONTRIBUTION TO WORLD PEACE AND
PROSPERITY .... I INVITE ALL TO SHARE IN THIS
VIS ION. " 'i Merle A. Hinrichs '65, Chairman, Asian Sources Media Group, Hong Kong
This November marks the beginning of Thunderbird's 50 year anniversary.
What better way to show your concern for world understanding than by
joining with 27,000 other T'birds and pledg-ing
your support for Thunderbird's valuable mission. LEVERAGE YOUR GIFT!
For 50 years Thunderbird has produced world ambassadors of
business and cultural understanding-people like yourself. The
strength of a Thunderbird education is found not only in the class­room,
but in the School's global reputation and vast alumni network.
~ Your contribution funds projects like the exciting new Inter­national
Business Information Centre (IBIC), and brings world­class
professors to the SchooL
~ <2.!Iality facilities and faculty increase the worldwide standing of
Thunderbird, and enhance the reputation of the MIM degree.
~ Alumni funds also help build scholarships and attract high­quality
students to Thunderbird, building a stronger alumni network.
For every .3 you donate spcci6caJly for support of
the c:xriting new International Business Informa­tion
Centre (IDIC), Merle A. Hinrichs '65 will
match an additional'1 up to S375,OOO.
Donate .500 or more, and your name will be
engraved on an exclusive plaque prominently dis­played
at the mlc entrance.
Help preserve Thunderhird's important mission. Pledge today.
Donations will be recognized with the following gifts: ~ $25 to $49-The
100% Participation Campaign Pin ~ $50 to $149-The pin and a
Thunderbird business card holder ~ $150 or more-The pin and a Parker
Pen imprinted with flags of the world. Thank you for your generosity.
FAX to (602) 978-6814
Or mail to Alumni Relations Office, Thunderbird,
15249 N. 59th Avenue, Glendale, AZ 85306-6006
I would like to pledge my
support for Thunderbird's
mission with a gift of:
o S500
o SlOO
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My gift will be matched
by: ____ _
Method of Payment:
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Account # ___________ _
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prup~#_-------------
* Please use my gift for:
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I have also enclosed:
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101 _______ _
SPECIAL REPORT:
EXECUTIVE EDUCATION
Hungry For Success
Thunderbird executive
education is experiencing
explosive growth. Why so
much success in an indus­try
that is shaking down?
/i..few years ago Fortune magazine
managed to ruffle the feathers
on business schools by making
some not-so-kind remarks about execu­tive
education: "Plenty [schools] are
greedy, lazy, and incompetent," it
lamented. "Because executive educa­tion
is so profitable, many have rushed
into the business. The teachers they
provide may be academic drones with­out
the temperament or solid consulting
experience to satisfy veteran execu­tives.
You should require even accom­plished
professors to familiarize
themselves with your company's busi­ness
issues and coordinate their presen­tations
with other teachers.'"
Funny how the truth smarts. Today a
revolution is underway in executive
In particular, growth in the "consor­tium"
and "custom" or in-house pro­gram
areas has been phenomenal,
exceeding 100 percent a year. Consor­tium
programs involve a group of five to
ten non-competing companies who
work collectively with the school to
design and run a targeted program.
Companies don't have to pull a large
group of people off the job at once­and
they can learn from each other.
"We set up our original consortium so
each company sent a specified number
of participants for four versions of the
same program. Mer that, obligations
ceased," says Barrett of the Thunder­bird
International Consortia. "The pro­gram
has been so successful that we're
now running number six or seven and
have two or three more already sched­uled.
We've even started a second con­sortium."
Thunderbird consortium members
are no small players either: Vitro S.A.
(Mexico), Amoco, GM, Fluor Daniel,
Honeywell, IBM, Kellogg Company,
Scott Paper, Warner-Lambert, Allied­Signal,
Goldman Sachs & Company,
education. Companies want
programs that help meet
specific business objectives
and gain immediate results.
They want professors with
experience in the business
world, not academia And in
increasing numbers, they
want programs that are not
simply cross-functional, but
cross-cultural and global.
"In 1989 yearly
revenues were
around
$600,000; 1995
AT&T, Black & Decker,
Dow Chemical, EDS,
Sunkyong. "These are
impressive companies,"
notes Barrett, "They have
given thought to where
they put their money."
Not surprisingly, Thunder­bird's
executive education
programs are experiencing
explosive growth. In 1989
revenues are
expected to
top $5 million.
Why so much
success?"
Thunderbird is also pro­ducing
a number of cus­tomized
single-company
programs, including ones
for Brunswick Corpora­tion,
Singapore Airlines,
and IBM. "To my knowl-yearly
revenues were around $600,000;
1995 revenues are expected to top $5
million. Why so much success in an
industry that is, like its customers,
downsizing dramatically?
"We have grown rapidly at a time
when executive education as a whole is
flat," says Ed Barrett, vice president for
executive education, who came to
Thunderbird in 1990. "Some schools are
growing, some shrinking. But no one is
growing at our rate or anything even
approaching our rate."
12 THUNDERBIRD XLIX 12 / 1995
edge, we are the only
graduate school provider of executive
education for IBM," says Barrett. "When
Gerstner came in as CEO at IBM, he
shut down executive education, started
with a clean sheet. We were first
through the door-and last."
Why the success? What is driving
companies to Thunderbird, and
making them stay?
In large part Thunderbird has a
unique franchise, in the sense of who it
is and what it is trying to achieve. After
all, the School has been internationally
(top) Vice President Ed Barrett's and former
Secretary General of OPEC Dr. Subroto's
powerful understanding of the world oil
and gas industry gives Thunderbird an
advantage in attracting companies to
executive programs.
(bottom) Associate Professor John M.
Zerio plays a key role in Thunderbird's
corporate consulting program, working with
domestic and foreign companies to solve
marketing problems.
oriented for approaching 50 years. What
that means is that there is a collective
mind set at Thunderbird to think inter­nationally,
to think cross-border, and to
think cross-culturally.
Says Barrett: "If we are trying to work
with understanding a particular region
of the world, we have people here who
know Japan. They know business prac­tices
in Japan, many have perhaps run a
business in Japan. We have people who
know mainland China, people who
know Indonesia We have business fac­ulty
who know the problems of doing
business in a particular part of the
world, and IS faculty who understand
what the culture and politics are like."
In short, Thunderbird is beating out
older and more established schools
because it can put together a tailored
program that has elements of business,
culture, and politics fused together. For
most schools crossing functional areas is
More interna­tional:
Thunder-bird's
executive
education is
beating out
older and more
established
schools because
it fuses business,
culture, and
politics together.
not too difficult; but
crossing borders into
international political,
economic, or cultural
issues is a different ball
game, one Thunderbird
probably does better
than anyone. Com­ments
Donna Banks,
vice president for
research at the Kellogg
Company, of her expe­rience
with Thunderbird's International
Consortia program: "The course is the
best one I've ever attended as an execu­tive.
It is extremely realistic."
Perhaps even more important than
where Thunderbird faculty can take a
company is how they take them. "There
are very few schools where you can get
language, international studies, and
management faculty to work so in sync
with each other," says Barrett. "Our fac­ulty
work together as a team, and can
deliver programs that in their totality
New Leadership Program
A new Leadership Certificate Program will
be offered by Executive Education in fall
1995, covering global management issues in
14 three-hour sessions (12 evenings and 2
Saturdays). For information, contact Ann
Wohl, Director EMIM, at 602-978-7920.
are much more sharply focused for
what a company or group of companies
needs."
Faculty at Thunderbird are no "acad­emic
drones" either. They have either
worked extensively in industry or done
comprehensive consulting, case writing
and field research. What does that bring
to the negotiating table when compet­ing
with other institutions? It brings fac­ulty
who have one foot firmly planted in
academia, and the other firmly planted
in the business world.
"Take Brunswick for example," says
Barrett. "One of the reasons they looked
at us is because they were looking for a
global program. Another reason they
chose us is the faculty they talked to are
people who have a good grasp of what
goes on inside a living global organiza­tion.
It is not a group of faculty who say
'in theory this is what you should find,'
but are not sure if that is reality."
Perhaps more so than other institutions,
Thunderbird faculty are inclined to be
in the trenches, and to understand what
is going on within the organization.
"Remember," Barrett points out, "this
school grew out of the business com­munity,
not the academic community.
While it is very much an academic insti­tution,
the roots of this institution are
every bit as much in the business com­munity.
I think that makes a difference,
and not just philosophically. "
Still, the competition for
executive education re­mains
fierce. And industry pat­terns
suggest the shake out will
only continue, maybe even
increase.
So why will companies con­tinue
to choose Thunderbird
for executive education?
Probably for three reasons,
says Barrett. The first has to do
with Thunderbird's core iden­tity:
"This school truly under­stands
the global arena. Of
course, no school can claim a
monopoly on that. But because
of who and what Thunderbird
is, we have a range of faculty
and a depth of knowledge and
experience in the global arena
that most other schools don't
have, and perhaps may never
have."
The second reason involves
Thunderbird's ability to put its
money where its mouth is: "We
have a solid track record of successfully
working with an impressive stable of
global companies from the last few
years," says Barrett. "What is important
about saying 'from the last few years' is
the world has changed so dramatically
in the last decade that if you had satis­fied
clients 10 years ago, that doesn't
necessarily mean that what you are
doing today is relevant. We can provide
a list of clients that have worked with
us in the last 24 months on contempo­rary
problems who are extremely satis­fied
with the results and the way we
worked with them. That says a lot about
our ability to stay ahead of the change
curve."
And the third reason? That one's
more indefinable, says Barrett, having
to do with the way Thunderbird cares
about the impact that its programs has
on people. "We are a customer oriented
organization. Of course, that's easy to
say. But the firms we work with will
back up that statement 100 percent."
Beyond the faculty, beyond the exper­tise,
at heart Thunderbird is an execu­tive
program that first listens and tries
to understand a company's problems
and needs-and then matches the edu­cational
program to those needs.
"In truth, part of it may be that we are
simply more hungry," muses Barrett.
"Not all schools are hungry like we are."
-By TIwmas McMillan
THUNDERBIRD XLIX 121 1995 13
Surfing the Thllllderbird Forum
1,300 alumni in 39 countries are networking on
CompuServe's Thunderbird Forum • By Mary MitcheU
Let's say you haven't yet joined the
Thunderbird Forum on Compu­Serve.
Worried you may have
missed the boat on an exciting new way
to network with other T'birds world­wide?
Good news: now's the best time to
join more than 1,300 alumni already
surfing this private, online meeting place
designed exclusively for Thunderbird.
Members are talking online about
subjects ranging from job openings to
alumni activities, exporting to entrepre­neurship.
They're accessing an online
library of files, participating in real-time
conferencing, looking up other
T'birds-even chatting in an "Online
Pub." Members are also accessing more
than 900 other CompuServe forums,
hundreds of databases, international
news services, electronic mail, and con­nection
to the Internet.
Here are four stories about T'birds
using the forum to make business con­tacts,
find jobs, promote alumni activi­ties-
or simply talk with faraway
classmates.
-- - -- ' •.. i."'.'!,
_'1' : Carol (Delperdang) Vincent '89
and Glen A. Michel '92
Lobsters and Women's Sportswear
What do Maine lobsters, Japan, and
women's sportswear have in common? A
message titled "Maine lobsters to Japan,"
from Carol (Delperdang) Vincent '89 in
Los Angeles started this tale.
Vincent was seeking more informa­tion
about the Japanese seafood market
for her part-time exportJimport busi­ness,
Global Trade Consultants. Her
message caught the attention of Glen A
Michel '92 in the Customs and Inter­national
Trade Practice of Deloitte &
14 THUNDERBIRD XLIX 12 I 1995
Touche LLP in Los Angeles. Since
Michel had spent many years in Japan
and was familiar with U.S. restaurant
chains there, he had suggestions for
Vincent. About to post his response, he
noticed Vincent had entered the forum,
so he invited her to chat online about
lobster exporting. Vmcent soon realized
that Michel's expertise could assist her
in a different way, related to her posi­tion
in importiexport at Gilda Marx Inc.,
one of the world's top women's sports­wear
companies. Before long, Vincent
had become Michel's client.
Favorite Files
Here are five favorite files and their
locations in the Thunderbird Forum:
• American Business Centers in Russia
(ABc.TXT) in Export/Import
• Alumni Opportunities bulletin (listed
by date) in Jobs-Pre '93 Alums
• Humorous Rejection letter
(REJECT.TXn in Jobs-New Grads
• First Tuesday contact list (FIR STU) in
Alumni Activities
• Job searching and the Thunderbird
Forum (FORJOB.Txn in Career Tips
Zulfiqar Khan '90 used the forum to
query other T'birds about how to mini­mize
inland shipping and warehousing
costs for his startup import company.
Michel subsequently obtained for
Vincent a 99 percent refund of duties
and taxes on certain goods, part of a
"duty drawback." "Drawback has been
around for a long time," says Michel,
"but it's little used because people don't
know to ask about it." Vincent also
relied on the forum in planning her first
business trip to Hong Kong, eliciting
information about local customs and
contacts for the First Tuesday gathering
(she subsequently met 30 Hong Kong
T'birds). "People talk about the Thun­derbird
network as a concept," says
Vincent. "Through the forum, you can
see it working." (For information about
duty drawback, see DRAWBK.TXT in the
ExportJImport library).
Online Job Search Works
G. Macy Merriman's story began
about a year ago, when a friend con­tacted
him with an opportunity to work
in Paris. Merriman '90 reasoned that if
he were to consider switching jobs, he
should investigate other possibilities.
He began responding to offers listed in
the online "Alumni Opportunities" bul­letin
in the Thunderbird Forum's
"Jobs-Pre '93 Alums" library (an
online newsletter provided bi­weekly
by Career Services).
After some months, he
noticed an opening with
Pioneer Hybrid, the world's
largest breeder of hybrid
seeds for arable crops. "I also
saw this ad in the Financial
Times," says Merriman, "but
only after I had seen it in the
Thunderbird Forum." Merri­man
sent his resume and
cover letter immediately:
"When I began communicating
with my future boss, who is in
Iowa, we used CompuServe
Mail-no missed calls and no interna­tional
phone bills. "
Merriman is now marketing manager
for Pioneer's hybrid seed corn for the
dairy and beef industries. "The hybrid
----.--- a - c
~".~
~~~
~
Thunderbird Forum
What's Special about the
Thunderbird Forum?
• Thunderbird was the first university
to provide an online alumni network
through CompuServe.
• You can send and receive e-mail
worldwide from CompuServe.
• No matter where you move in the
world, you keep the same User 10.
• Thunderbird's special $12.95 monthly
fee includes unlimited access to the
Forum and 120 other CompuServe
basic services, plus three free hours
of access to the Internet each month.
seed business is very satisfying," he
says. "It seeks to fulfill mankind's age­old
need to feed itself while striving to
remain on the leading edge of advances
in genetic research and development."
From his base in Brussels, Merriman
now has the world as his territory-and
the Thunderbird Forum to thank in part.
Marketing Alumni Events
As the president of the New York
T'bird Alumni Association chapter,
Stephen J . Doyle '82 has found the
Thunderbird Forum valuable for mar­keting
local alumni events.
"Our chapter uses the forum fre­quently
to market New
York alumni events, such
as the annual Boat Party,
T'bird Tuesdays, dinners,
speakers and other
events," says Doyle, who
has worked in interna­tional
trade for 12 years
and is president of
Integrity International Stephen Doyle '82
Corp.
Doyle also has used the forum to help
fellow alums traveling to the Big Apple.
"I have been able to reciprocate on sev­eral
occasions by answering questions
other T'birds have regarding visits to
New York, or contact names of T'birds
in various locations," says Doyle. Note:
The New York chapter has contributed
a file of job-search tips, specific to net­working
in the Big Apple (see file DEC2
in the "Career Tips" library of the Thun­derbird
Forum).
Making a Cultural Connection
If not for the Thunderbird Forum,
Marcella Simon Peralta '84 of Silver
Spring, Md. , and Amy Kahn '92 of
Phoenix might not have met. But
because they connected through the
forum, they are now collaborating on a
book.
A foreign service
officer in Central
America until the late
1980s, Peralta started
her own intercultural
training firm, Peralta
Associates, in 1990.
She has trained Japan­ese
businessmen in
American culture, con­tributed
to a World
Bank report on Mauri­tius,
and served as a
cultural specialist for a
Latino Head Start pro­ject.
"My field is cul-ture,"
says Peralta, Marcella Simon
who uses Compu-
Serve's forums as a Peralta '84, (top)
means of "seeing what and
people from other cul- Amy Kahn '92
tures are thinking." She frequents the
African-American Forum for its diver­sity
of opinions and also the Inter­national
Trade Forum.
A few months ago, Peralta placed an
inquiry in the Thunderbird Forum. "I
was writing a book about diversity train­ing
and wanted input on programs from
other companies." Another forum
member put her in contact with
Amy Kahn, also working in that
field. "Marcella and I have a lot of
the same interests and were doing
many of the same things without
knowing it," says Kahn, who since
graduation has operated Culture­link,
a Phoenix-based business that
helps corporations identify and
resolve cross-cultural training needs.
Peralta and Kahn are still looking for
a publisher for their diversity training
book, and are interested in
hearing from T'birds in-you
guessed it, the publishing
business. •
Alt, Who Goes There?
"I have enjoyed making new friends and
also have obtained contacts for business in
Hong Kong and Germany. T'birds have been
most helpful in providing everything from
suggestions of places to stay and eat, to rec­ommendations
of individuals and companies
that could assist in business."
-Craig Heinze '81
The Hague, The Netherlands
"Using the Thunderbird Forum, I have been
able to track down and establish contact
with five long-lost friends and classmates.
Tw have already visited me in Bangkok.
It's great to be in touch again."
- James Reinnoldt '81
Bangkok, Thailand
"CompuServe and the Thunderbird Forum
are a regular part of my business day. I find
out locations and alumni contacts for First
Tuesdays in cities where I'm traveling, and
obtain country information. I look up friends
in the directory and talk online and via e­mail
to the administration, the board of
trustees, students and alumni worldwide."
-Joe O'Neill '80
Board Member, T'bird Alumni Association
Cincinnati, Ohio
"It's also fun to chat with random T'birds all
over the world. Since I'm logged on at
bizarre hours, I usually get to talk to T'birds
in Europe and the Americas at the same
time.
-Jennifer Warner '95
Barcelona, Spain (ESADE)
"It is really beneficial to know I can log onto
the forum and, in a matter of hours, learn
the name of a friendly contact in practically
any country around the globe, find out
which part of an unfamiliar city is the best
to find a good hotel, or simply locate a miss­ing
friend."
-Stephen J. Doyle '82
New York Chapter President
"A person from my graduating class was
pleasantly surprised to see my messages, as
it had been a number of years since we had
been in touch. An advantage of the
Thunderbird Forum is that no matter where
in the world you are, you can be found."
-Bruce Crumley '76
Danbury, Conn.
THUNDERBIRD XUX 121 1995 15
Creative Ways to Give
There are many creative ways to
assist the School in its educational
mission. Naming Thunderbird as a
beneficiary in your will is one way.
Berger Erickson, one of Thunder­bird's
most beloved administrators,
bequested a major portion of his
estate to the School when he died two
years ago. Bequests to Thunderbird
may be designated as unrestricted, in
which case they are added to the gen­eral
endowment or operating fund, or
restricted for a specific use, such as
student scholarships.
The donation of property is another
tax-smart way to show support for
Thunderbird. John G. Cullen '68,
executive vice president of NCR
Corporation in Madrid, Spain, recently
donated two houses he had purchased
for his two sons, John J. Cullen '92
and Michael W. Cullen '94, to live in
while they attended Thunderbird.
Proceeds from the sale of the proper­ties
went towards a scholarship fund
that John '68 had previously estab-
16 THUNDERBIRD XLIX 12 1 1995
Berger Erickson
lished in his father's name (his father,
Arthur Cullen, was one of Thunder­bird's
first professors). John is also on
the Board of Directors of Thunder­bird's
French Geneva Campus in
Archamps. John's brother, Michael
C. Cullen '72, is also a T'bird.
Fred Koppl '52 of Munich,
Germany has provided a $19,500 lead
gift for a scholarship in the name of
former Thunderbird President
William L. Schurz. Schurz, who
served as president from 1949 to 1951
after General Yount's death, was
an affable, caring man held in
high regard by the students. In
fact, Schurz resigned from the
presidency after only two years
so he could return to the class­room
and his students. Koppl is
currently raising additional fund­ing
for the Schurz scholarship
from alumni who graduated
between 1946 and 1963.
Benefits of
Charitable
Remainder
Trusts
A charitable trust can
provide financial
returns for you­and
Thunderbird
• By Kristi HoweU
The fear of capital gains taxes eat­ing
up profits often keeps
investors from selling highly
appreciated assets-even though port­folio
diversification and increased
income are investment priorities.
One attractive solution to that prob­lem
is a charitable remainder trust. By
setting up a charitable trust, an investor
can eliminate the capital gains tax, take
immediate advantage of a charitable
income tax deduction, profit from a
higher income stream, and possibly
reduce future estate tax liability.
How so? A charitable remainder trust
is a tax exempt entity. Accordingly, a
person who makes a gift to such a trust
becomes entitled to a charitable income
tax deduction. Further, the trustee of
such a trust can sell appreciated assets
without incurring a capital gains tax.
And there is more. A person who cre­ates
and funds such a trust can retain
the right to receive the income on the
gifted property for himself and his
spouse for their lives or for a fixed term
of years.
Fred Koppl '52
Income for life
There are two types of charitable
remainder trusts. The first type, called a
"variable trust" or "uni-trust," pays a
fixed percentage of the variable fair
market value of the trust's assets, val­ued
annually. The second type, called
an "annuity trust," provides a fixed
annual payment based on the fair mar­ket
value of the original assets.
Here's how it works. Suppose you
establish a trust into which you donate
appreciated assets. Since the trust is
exempt from tax, it can then sell those
assets without paying any capital gains
tax (effectively increasing the after-tax
value of the assets by 28 percent, com­pared
to selling them yourself) .
Proceeds from the sale are then avail­able
to be invested in vehicles offering
higher returns than your original assets.
An Example
Here is an example:*
Say you bought stock several years
ago for $6,000, and today it is worth
$30,000 with a dividend return of 3 per­cent.
Let's assume you are in the 31 per­cent
federal tax bracket. If you sold that
stock, you would have to pay capital
gains tax of approximately $6,720, leav­ing
you with $23,280. Assuming you
invest that at 6 percent, you would gen­erate
$1,396 annually for the rest of
your life.
Now, consider the same scenario if
you set up a charitable remainder trust.
Since the stock is being sold by the trust
with no capital gains tax, the entire
$30,000 would be available for reinvest­ment.
Assuming the same 6 percent
reinvestment, you would now generate
$1,800 in annual income. More inipor­The
trust then provides an
income payment to you (or
someone else you choose) for
life or for a fixed term of
years.
A Tax Deduction
In addition to avoiding cap­ital
gains tax and increasing
your income stream, a trust
entitles you to a current char­itable
income tax deduction.
As you might guess, however,
that deduction is less than the
"Eliminate the
capital gains
tax, and take
immediate
advantage
tantly, the contribution
deduction would reduce
your immediate taxes by
$9,300.
Last but not least, even
though the donor has
enjoyed the fruits of the
gifted property for life, an
estate tax deduction for the
assets passing to charity
wipes out some of all of the
tax that would otherwise
be payable.
of a
charitable tax
deduction."
present market value of the assets
donated. That is because you have not
completely relinquished your stake in
the assets.
Just how much is your deduction
worth? That is primarily a function of
your age. In general, the older the
income beneficiary, the higher the
deduction, since the IRS figures the
charity will get its share sooner with an
older beneficiary.
Two other rules that apply to the
deduction are worth noting. For contri­butions
of cash, your actual deduction
is restricted to 50 percent of your
adjusted gross income. For contribu­tions
of appreciated assets, the amount
of your deduction is restricted to 30 per­cent
of your AGI. However, in both
cases a five-year "carryover" rule
applies, whereby any unused deduction
can be carried forward for up to five
years.
Charitable remainder
trusts offer many substantial benefits
for both the donor and Thunderbird.
These and other creative investment
options, such as pooled-income funds
(see accompanying box), can allow you
to enjoy the financial and altruistic
rewards of charitable giving, while at
the same time retaining an interest in
the assets donated. •
Professional legal, tax, andfinancial
planning advisors can lead you
through the issues and assist infind­ing
the option which bestfits your
financial si tuation and needs.
Thunderbird can provide addi tional
assistance. For more information,
contact the Development Office at
(602) 978-7137.
* (for comparative purposes only;
actual returns may differ)
-
Virtues of Pooled Income Funds
Another attractive charitable invest­ment
to consider is the pooled
income fund A pooled income fund is a
large trust (assets are pooled with those
of other donors) maintained by a charity
to which you may donate the remainder
interest in property while maintaining a
life income. The result is a more lever­aged
return for both the donor and
Thunderbird. Consider this example:
A 67-year old donor wishes to contributel
invest $25.000 in Thunderbird's pooled income
fund. The donor transfers common stocks
valued at $25.000 into the fund. These stocks
were valued at $10.000 when purchased many
years ago. Assume the fund pays 8% and
the donor's top marginal tax bracket is
28%. Here's what happens:
The donor transfers appreciated
stocks to the plan: ................................. $25.000
The donor receives a federal
tax deduction (based on IRS
actuarial table) of $9.460. Which.
in the 28% tax bracket, results
in federal tax savings of: ......... $2.649
Plus an Arizona
state tax deduction of: ................ $757
Plus federal and state
capital gains tax savings of: .... $5.400
For total tax savings of: ......................... $8.806
Which reduces the net cost
of the gift/investment to: .................... $16.194
Assuming return on the
$25.000 at 8%. the donor
receives lifetime annual
payments of: ............................. $2.000
(Compare to the stock's
original 3% annual dividend): .... $750
Resulting in an increase in
annual income of: ...................... $1.250
Yield on Net Investment
The donor contributed $25,000, real­ized
tax savings of $8,806 (meaning a net
investment of only $16,194), increased
annual income by $1,250, and earned a
12.3% effective rate of return ($2,000
divided by $16,194). (This information is
based on IRS actuarial tables and is gen­eral
in nature.)
Thunderbird offers a pooled income
fund currenUy invested in a U.S.
Money Market Fund and an Intermedi­ate
Bond Fund. The principle donation
is eventually passed on to Thunder­bird.
Any proceeds earned are used to
increase Thunderbird's endowment
unless otherwise specified by the donor.
For more information, contact the
Development Office at (602) 978-7137.
THUNDERBIRD XUX 12 I 1995 17
INTERNATIONAL
Canada
Second Tuesdays are held at
the Movenpick at 165 York
Street near the Sheraton in
downtown Toronto. Second
Tuesdays start at 6:30 p.m.,
offering drinks and free food.
For more information, call
Susan MacGregor at
(416) 656-6261 or Barbara
Tsai at (416) 595-5413.
Hong Kong
The dazzling city of Hong
Kong played host to the
Thunderbird Asian Reunion,
April 28-30.
See the next issue of
Thunderbird magazine for
complete coverage.
India
(See photo next page.)
The Netherlands
A new committee for the
Dutch chapter of the alumni
association has been formed
with Rene van Baardewijk '91 as
chapter leader. Other committee
members are Wilbur Bakker
Schut '86, Bertil Duinhouwer
'91, Ben Kroon '87, and
Rombout and Canan Peer '91.
The new committee is looking
to reactivate T'bird alumni
participation and activities in
The Netherlands.
In January 75 members
kicked off the year with a get­together
and buffet dinner at
Cafe Gallery Dante in
Amsterdam. T'birds came from
Germany and Belgium to attend
the event, in addition to a
delegation from the Archamps
campus.
All future First Tuesday meet­ings
will be held at the Cafe
Gallery Dante. Mark your calen­dars
for the First Tuesdays of
each month starting at 19:00
hours. For more information,
call Rene van Baardewijk at
(31) 020-6464732.
Russia
The Winterim in Russia class
was the special guest at the
Second Tuesday in Moscow at
the Sante Fe Bar and Grill. Also
attending were T'bird professors
Drs. Dale Davison and Walter
Tuman. The general topic of the
January meeting was expatriate
marketing in Russia
18 THUNDERBIRD XUX 12 I 1995
NETWORK
TAA Board News
Special Chapter Events for T'bird's 50th
Believe it or not. the 50th anniversary of Thunderbird kicks
off this fall! The Thunderbird Alumni Association Board and
the Office of Alumni Relations are planning a number of
exciting new programs to assist individual chapters in their
own celebration of this special rbird anniversary:
* New events and programs are being created for this year's
homecoming celebration in November, including gala indi­vidual
class events and a mini business conference.
* A "traveling journal" will move from chapter to chapter
throughout the world, starting at the 1995 homecoming
and ending at the 1996 homecoming. It will serve as a first­hand
account of the 50th anniversary year as experienced
by alumni groups around the world.
* Individual chapters will be assisted in creating their own
anniversary celebrations all over the globe.
* A new awards program is being developed to honor indi­vidual
members of each chapter throughout the
Thunderbird network. These awards will recognize service
and dedication to the alumni program, and recipients will
be selected by their local chapter.
Keep your eyes and ears open for these and other
special 50th anniversary homecoming plans through mailings,
announcements on the CompuServe Thunderbird Forum, and
upcoming issues of Thunderbird magazine.
... Madrid's Christmas reunion drew 48 alumni.
For chapter information, contact Felix
Guimoye '90 at 34-1-559-1915.
Spain
Barcelona
Tbirds held their March First
Tuesday at the Can Punetas at
Ciutat Balaguer 50. Barcelona
First Tuesdays start at 9:30 p.m.
Madrid
(See photo below.)
Sweden
Stockholm First Tuesdays are
now official! Two get-togethers
have already been held, and in
April the group plans to meet at
Cafe Tivoli, Hornsgatan 31 in
Slussen. If you have questions
or want more information, call
Astrid Boer at 08-7203927, or
Christoph Adams at
CompuServe 74371,204.
UNITED STATES
Arizona
Phoenix
Phoenix T'birds changed the
location of their First Tuesday
meetings to The Plaza Club atop
the Norwest Bank Building at
3300 North Central Avenue. It
offers impeccable service with
spectacular views. First
Tuesdays start at 6:00 p.m.
In November, Phoenix Tbirds
hosted a number of activities
during the annual T'bird home­coming.
After the Balloon Race,
a softball tournament and an
international happy hour, the
Alumni Barbecue blow-out was
held at the Pub on the Thunder­bird
campus. The event featured
catered food, live music and
socializing.
For visiting Tbirds who get
the urge to stop at the old water­ing
hole for some interesting
conversation (in a variety of
languages), the Phoenix chap­ter
holds monthly alumni
BBQ's on the third Friday of
every month at the Pub.
For more information, con­tact
president Karen Culver
'87 at (602) 504-1722 or on
CompuServe at 74371,1020.
Reminiscing in Prague 25 ~
years after graduation are
(I-r) Dittmar von Hanstein
'70 (from Kaliningrad,
Russia), Frederic Erne '70
(from Zurich, Switzer-land),
M. Lo Locher '69
(from Munich Germany),
and Jorgen Lindeskov '70
(from Florence, Italy).
California
Bay Area
Bay Area T'birds held a picnic
at the Mondavi Winery in the
beautiful Napa Valley in Sep­tember.
Lesley Brown '90, who
works for Mondavi, coordinated
a wine tasting for her fellow
T'birds.
The Thunderbird Moonlight
Bay Cruise set sail from Pier 40
in the South Beach Harbor in
San Francisco in October for a
three-hour cruise. Unlike
Gilligan and the Skipper, all
T'birds returned safely to shore.
The annual Christmas party
was held at the San Francisco
Marriott on December 6. For
more information on the Bay
Area Thunderbird Alumni
Association and First Tuesdays,
contact Darlene Drapkin '84 at
(415) 332-6820.
NOTE: The location for Third
Tuesdays has been moved to the
Empire Grill & Tap Room in the
heart of downtown Palo Alto.
The owner, Chip Truett '72, has
graciously offered the use of his
pub which boasts 16 savory
beers on tap. Join other Bay
Area T'birds starting at 6:00 p.m.
NETWORK
Los Angeles
A group of 20 T'birds gath­ered
at Alpine Village on
October 7, and participated in
the Chicken Dance, had German
beer from the micro-brewery,
and met with each other for
several hours of good food and
discussion. Thanks to Mike
Bunichter '87 who coordinated
the T'bird Oktoberfest.
In December, L.A. T'birds
held their annual Christmas
party at Pentola's Taverna.
For First Tuesday information,
contact Mike Bunichter '87 at
(213) 613-3507.
Orange County
Orange County T'birds have
kept a busy schedule of monthly
international dinners during
1994. In addition to their
Chinese, Cuban, Persian,
Egyptian and Korean BBQ din­ners,
their December holiday
dinner rang in the holidays with
a Moroccan flavor. Held at the
Marrakesh Restaurant in
Newport Beach, the feast was
complete with food, beverage
and belly dancing.
Orange County T'birds hold
their monthly First Thursdays
at Maxi's Lounge at the Red
Lion Hotel. Call chapter presi­dent
Matthew Allbee '92 at
(714) 733-3306 for more
information.
Colorado
Colorado T'birds held their
annual holiday party and
December First Tuesday at the
Wynkoop Brewery in Denver,
just a baseball's throwaway
from the new Coors Field.
Colorado now has one of the
fastest growing T'bird alumni
chapters and urges all to partici­pate
in their activities. First
Tuesdays are held at the
Wynkoop Brewing Company, at
the comer of Wynkoop and 18th
Street in Lower Downtown
(LoDo). Call Audrey Penk '91
at (303) 366-3757 for more
information.
This winter, Colorado T'birds
escaped to the High Country
Lodge outside of Breckenridge
for a Thunderbird weekend.
Escapees had their choice of ski­ing
at Breckenridge, Keystone or
the A Basin. Kenny Sununers '70,
owner of the High Country
Lodge, is a fellow T'bird.
District of Columbia
The Washington D.C. TAA has
changed its First Tuesday meet­ing
locations to the Brickskeller
at 1523 22nd Street in Washing­ton,
just one block from the
Dupont Circle metro station.
The selection of global beers in
addition to an exclusive room
with their own bartender made
the Brickskeller a perfect
choice.
D.C. T'birds held their annual
dinner on February 10 at the
Little Cafe in Arlington, Virginia.
Speakers for the evening
included Dr. llewellyn Howell,
chairman of Thunderbird's
International Studies Depart­ment,
and Steve Orr '79, chair­man
of the Thunderbird Alumni
Association. Elections for the
chapter board were also held.
D.C. T'birds who would like
to get on the chapter's e-mail list
can e-mail their Internet address
to Lydia Middleton '91 at mid­dletel@
usa.red-cross.org or call
(202) 639-3118.
....
• First Tuesday in Bombay,
India, organized by Chetan
Shah '87 and his wife,
Vijay Anand (second and
third from the right) .
T'birds from The Nether­lands
converging on the
Cafe Gallery Dante in
Amsterdam included (I-r)
Rene van Baardewijk '91,
Edward T. Pennings '93,
Elpida Frantzeskarou '93,
John D. Stokes '93, and
(seated) Jan P. de Smedt '93.
THUNDERBIRD XLIX 12 / 1995 19
Florida
JacksonviUe I N.E. Florida I
South Georgia
First Tuesday meetings are
now being held at Beau's at the
Marriott at Southpoint on
Salisbury Road, at 1-95 and
Turner Butler in Jacksonville.
Official First Tuesday starting
time is 6:00 p.rn. Call William H.
Hill, Jr. '71 at (904) 285-5576 for
more information.
South Florida
Once again, the Daniels fam­ily
of Coral Gables offered their
home so South Floridian T'birds
could share in the fun, food and
spirits of the season for the
annual Christmas Party. It was
truly an international potluck
with South Floridian T'birds
each bringing an entree or
desert representing different
countries.
Tampa Bay
Tampa's first First Tuesday
was held at the Cactus Club.
(See photo page 22.)
NETWORK
European Reunion
The next Thunderbird European Reunion (June 15-18, 1995) will
be held in the ancient Roman city of Mainz, capital city of the
State of Rheinland-pfalz in Germany. Located near Frankfurt in
the scenic Rhein-Main river valley, Mainz is a treasure of beau­tiful
architecture, outdoor cafes and green parks, and will pro­vide
an ideal setting for T'birds to meet old friends and make
new acquaintances.
The State of Rheinland-pfalz is hosting the 1995 European
Reunion as part of the -Nachbar Amerika, - which celebrates 50
years of peace and prosperity between Germany and the u.S.
Highlights will include a welcome reception with state officials;
visits to 2,000 year-old Kupferberg Sekt Cellars, the Gutenberg
Museum, and the l.000-year-old Romanesque cathedral. A
panel discussion will feature senior officials of the New
European Central Bank as well as a presentation on German
commerce and politics. Tbirds will also have the opportunity to
attend the annual Thunderbird International Business forum
and relax with a wine-tasting party and a scenic Rhein river
boat cruise, complete with dinner and dancing.
Illinois
Chicago
In October, the Chicago
Thunderbird Alumni
Association held a Day at the
Races with the University of
Chicago Alumni Association.
T'birds had their own private
Ascot Suite and all-day buffet at
the Arlington International
Racecourse.
During December, the
Chicago Alumni Association
held elections for officers and
members of the board. Marie
DeLean '93 and Rich Gesteland
'91 were elected as co-presi­dents
with BeI\iamin C. White
'92 as treasurer and Ursula
Rieger '92 as secretaIy. Elected
as Members of the Board were
Kimberley Bishop '92, David
Reed '89, Patrick Shauglmessy
'91, Aleksandra Lubavs '91 and
Ann F. Rosen '82.
Chicago T'birds have also
created a new bi-monthly
newsletter, ThunderWord.
Contact Paul Prengel at +49 (6131)-163225 or at fax 163447, Arrangements are underway
John Cook at +49 (6101)-47618 or at fax 48609, or George for The Great Couch Program,
Georgia Redlbacher at +49 (6196)-641474 or at fax 643208. Sponsorships which will help find accommo-
Atlanta are also being sought to help support the event. so if your dations for students visiting
Camille Pacht '93 has been Chicago from Thunderbird. The
elected president of the Atlanta company can participate, give them a calli St. Germaine Cafe was selected
chapter and is replacing Mark as the site for a Sunday Brunch
Rush '92 who has been assigned held once a month for casual
to a project with AT&T in Saudi get-togethers. Call Kim Bishop
Arabia. Asa Forsgren '92 is vice '92 for more details at
president of Marketing and Katy (312) 935-9236.
dBeoneth omfe Srp '9e3c iiasl tEhvee vnitcse. presi- .---.-!..----------::======::::~~;;;;;;;;;;l taInst iFnegb trouuarry w aa sfr aerer abnegeer d
The Atlanta Chapter is by the Chicago Brewing
helping the Atlanta Company and the Goose
Committee for the Olympic Island Brewery. In
Games (ACOG) to look for March, the chapter
volunteers as envoys during started their own
the 1996 games. Envoys International Film
work directly with the ath- Festival.
letes and officials of the In addition, Chicago
Olympic countries. The T'birds changed the
ACOG requirements fit the location of their First
profile of the average T'bird: Tuesdays to The Red
management and leadership Lion, 2446 N. Lincoln
ability as well as language Ave. in Lincoln Park.
skills. Envoys must be avail- Call Rich Gesteland '91
able for training prior to the at (312) 868-6075 for
games and for six weeks more information on
during the games. For more First Tuesday.
information, contact Leslie
Merrick at ACOG at
(404) 224-1005.
For further information on
and First Tuesdays, call Camille
Pacht '93 at (404) 813-6882 or
(404) 454-9038.
20 THUNDERBIRD XLIX 12 I 1995
....
"Event marketing is a S15 billion business. My job for Knight-Ridder is to get them to
think outside the traditional marketing box," said (I) Willie Cone '79, event mar.keting
director for the Newspaper Division of Knight-Ridder, Inc. in Miami. Cone, Kim Royster
'85, managing director of Pulse Marketing in Los Angeles, and Whit Allen '92, marketing
manager of Caribbean and Latin American Operations for AT&T Energy Systems in Dallas,
conducted an international marketing workshop for students in March.
Maryland
Maryland T'birds went on the
road with a series of First
Tuesday locations alternating in
various state areas. The next is
Griffin's in Annapolis on May 9.
Contact Lisa Garramone Mark
'88 for more information
(410) 333-8180 or Andrea
Deleon '92 at (410) 576-0022.
Michigan
The Michigan T'birds organize
international dinners on a
bi-monthly basis with the first
dinner held in September at a
Japanese restaurant. In
February, the chapter held a
Lebanese International Dinner
at La Shish in Dearborn.
For more information,
call Kurt Nelson '92 at
(313) 240-6409.
Minnesota
Minnesota T'birds braved the
cold in December to go caroling
around town. Also in December
was First Tuesday held at Brits
Pub & Eating Establishment. On
January 28, Minnesota T'birds
celebrated Chinese New Year in
style with a party at the home of
Bill and Malyn Wrobel. Winter
blahs were brightened up by
authentic decorations, tradi­tions,
fireworks, personal
Chinese horoscopes, and great
food and beverages.
First Tuesday in February
was held at Dixie's Bar & Grill
on Grand Avenue. For First
Tuesday information call Muriel
Gustaba '89 at 698-9157.
NETWORK
Missouri
St. Louis
The St. Louis T'bird
alumni chapter held their
March 7 First Tuesday at
the st. Louis Tap Room
at 2100 Locust in St.
Louis, near Union
Station. For more infor­mation,
contact Joyce
Wiegand '92 at (314) 771-
6067 or Internet at
Weigand328@aOLcom.
New England
Mike Yamada '90 of the Detroit
Alumni Chapter was one of
seven transplanted Japanese
recently profiled by Kansai-TV, a nation­al
network based in Osaka. Yamada was
the subject of a Japanese TV documen­tary
and a series of articles on Osaka
natives living overseas. The TV crew fol­lowed
Yamada around
corner will act as an
informal job exchange
with copies of the latest
job postings from the
CompuServe T'bird
Forum. Vince will also
act as a contact point
for those seeking jobs,
and those who have
positions to fill.
Over 80 alumni
attended the annual holi­day
party of the Thun­derbird
Club of New
England (see photo).
Events on tap for the
Detroit to capture a
typical work day and
Almost 250 New York
T'birds and friends gath­ered
for a successful
11th Annual Boat Party.
A surplus from ticket
sales was sufficient to
continue funding the NY
chapter's expenses so
annual dues are not nec­essary.
In addition, a
special $500 scholarship
will go to a worthy stu­spring
include a dent.
Caribbean roving dinner,
a ski trip, and a subur-ban
roving dinner.
New officers for the
the private life of a
Japanese businessman
in the U.S., and from
Detroit until he landed
at Osaka's new inter­national
airport, the
club for 1995 are Nobu
Kondo '83, president;
Greg Grande '91, vice
president and treasurer;
Katherine Brand '92,
vice president; Jeff
first built on the sea rather than land
New York T'birds
held their first 1995
social gathering at one
of the best known
restaurants in China­town,
the Golden
Unicorn Restaurant
on March 9.
(Yamada's plane was the first to land at
the new airport).
North '92, vice president;
Karen SaskY '88, vice
president; and Yvette Morrill '83,
newsletter editor.
First Tuesday meetings begin
at 5:30 p.m. at Union Oyster
House, 41 Union Street in
downtown Boston. For more
information call Nobu Kondo '83
at (508) 668-8776.
New York
The New York chapter has
changed the location of their
First Tuesdays to Brew's at 156
E. 34th Street between 3rd and
Lexington in Manhattan. First
Tuesdays start at 6:00 p.m.
For information on T'bird
activities in New York City and
the surrounding area, call the
New York T'bird Hotline at
(212) 713-5744.
Thanks to board member
Vince Daniels '74, there is now a
career corner that will be at
each T'bird Tuesday. The career
Oregon
Portland
Portland T'birds have been
busy with both a Brazilian and a
Singaporean Food Fest held
during the fall months. First
Tuesdays continue to be held at
the Red Lion, Maxi's Lounge.
Spring plans include a break in
the rain, the second annual beer
and bratwurst party, vineyard
tours and much more. For fur­ther
information on activities
such as language groups, ethnic
restaurant outings and First
Tuesdays, contact newly elected
president Robert Jones '90 at
(503) 624-8036.
The annual holiday party of the New England chapter drew
over 80 alumni. Pictured are (lor) Greg Grande '91, Katherine
Brand '92, Karen Sasky '88, Thunderbird President Roy
Herberger, Peter Moon '89, Thunderbird Vice President of
External Affairs Jenny St. John, and Nobu Kondo '83.
Hong Kong chapter alumni •
gather for First Tuesday at
JJ's in the Grand Hyatt.
THUNDERBIRD XUX 12 I 1995 21
Texas
Austin
The spring calendar of events
for Austin T'birds includes First
Tuesdays at the following estab­lishments:
April, The Cooper
Tank; May, The Armadillo
Brewing Company and June,
The Stone House Brewery.
In July, Austin Tbirds plan to
go tubing at Schlitterbahn in
New Braunfels along with the
Dallas, Houston and San
Antonio T'bird chapters. To
participate in this all-Texas
T'bird event, contact Susan Jons
'91 at (512) 502-4067 or John
Poth Jr. '92 at (512) 327-3868 for
more information.
Dallas/Ft. Worth
On October 25, the DallaslFt.
Worth chapter and the Greater
Dallas Chamber's International
Trade Department sponsored a
timely lecture event entitled
"NAFrA: Impact of NAFrA and
the Impact of the Dallas Labor
Secretariet." Dr. Francisco
Carrada-Bravo (Tbird profes­sor)
and Cathy Golden (Dallas
International Trade Depart­ment)
were the featured speak­ers
for the evening. Tbird
alumni and event organizer
Peggy McNeil '78 reported there
NETWORK
was an excellent turnout with
over 50 people.
The first event of 1995 was
held on January 3 at a local
brew pub. Remaining First
Tuesday locations for the first
half of 1995 include: April, the
ArcodorolPomodoro; May, the
White Swan in Lakewood, and
in June, Weldon's Houseboat at
Pier 121 Marina in Lake
Lewisville. For more informa­tion,
call the DIFW Alumni
Hotline at (214) 913-0515.
Houston
Dan Morris '91 has organized
an International Speaker's
Forum for First Tuesdays,
which will tap into the vast
international experience of the
Houston alumni. Each month
there will be a 30-minute presen­tation
by an alumnus, colleague
or visitor on a topic of their
choice as it relates to interna­tional
business with discussion
following. The goals of the
forum include offering up-to­date
information on the global
marketplace, and learning more
about international activities in
the Houston area.
In February, Carl Caito '71
with the Conlin Financial Group
spoke at First Tuesday. In
March Joseph Ringer' 68 of the
Export-Import Bank spoke.
Houston Tbirds held their
annual holiday party at the
home of Richard and Inga
Koehler '69 in the Galleria area.
The celebration had a global
aspect as all Tbirds were asked
to bring a dish of international
origin. Also of note, the Houston
area T'bird softball team fin­ished
the '94 season with a 5-3
record.
First Tuesdays for the
Houston Chapter are held at the
Black Swan Pub and the Omni
Hotel, located off Woodway just
outside the 610 West Loop.
Contact Dan Morris '91 at (713)
963-7811 for more information.
First Thursdays for Northside
T'birds are held quarterly at
Matthias' Restaurant at 3755 FM
1960 West. Contact Roxanne
Skawin '73 at (713) 376-0643.
San Antonio
The San Antonio Chapter of
the Thunderbird Alumni
Association celebrated the end
of the year with their annual
Christmas Blast held at
Cascabel Bar at the Sheraton
Fiesta in San Antonio. Call Ben
Miedema '77 at (210) 341-5658
for more information on San
Antonio First Tuesdays.
The Detroit chapter's first
"International Dinner Club,"
a bimonthly social gather­ing
at an ethnic restaurant,
attracted a large and
Washington State
Seattle area Tbirds hosted a
congratulation reception in
November for Washington State
spring 1995 T'bird candidates.
T'bird alumni shared their per­spectives
on how Thunderbird
influenced their careers and
lives, then answered questions
from prospective students about
housing, life in Glendale, cam­pus
life, course schedules and
career choices.
In December, the Washington
State Thunderbird alumni held
their Annual Holiday Ball on
December 4 at Chateau St.
Michel, a local winery.
The March First Tuesday was
held at Duke's Yacht Club on
the east side of Lake Union.
Contact Ron Barbera '89 at
(206) 851-3943, x271 for more
information.
Wisconsin
Milwaukee
Milwaukee Tbirds braving
still-cold March weather met at
Conejito's Place for Mexican
cuisine. Future First Tuesdays
dates include May 2, Karl
Ratzsch's. To celebrate warmer
weather, the Milwaukee Chapter
plans to meet during River­Splash
(June 2) and Summer­Fest
(June 30). For more
information on Milwaukee
Tbird events, call Ellen
Dieringer '81 at (414) 351-4035
or (414) 271-3242.
hungry crowd of 26 alumni. T
-By Jeanene Edwa~
... Tampa Bay's inaugural First
Tuesday was held at the Cactus
Club in Tampa. Pictured are (back
row I-r) Duncan Thomas '63,
William Stewart '90, Ben Connelly
'94, Charlie Hounchell '90; (middle
row I-r) Mike Lowrey, Jim Harper
22 THUNDERBIRD XLIX 12 I 1995
'74, Jeff Fowler '90, Joe Sam Shirah
'76, Ira Stevens '91, Warren
Teissier '92; and (front row I-r)
Diane Homa '79, Valeria Moody
(with daughter), Eric Moody '93,
Kimberly O'Shea, and Cecy
DeReuil '90.
1947·59
Nicholas J. D'Anna '47 recently returned
from Vladivostok, Russia where he and his
wife, Joan, served as volunteers for inter·
national Executive Search Corps, by assisting
Furnitura, a Russian mirror manufacturer.
George E. Martin '47 has written two books,
Wild Oakie and Man: Scourge of the Earth. He
lives in Alpine, CA Walter M. Leonard '49
celebrated his 47th wedding anniversary with
his wife, Phyllis, on January 31, 1995. Thomas
B. Birch '51 is senior vice-president
of communica­tions
at intro TechnolOgies
Services, inc. He and his
wife, Sigrid, live in
Newport Beach, CA
Frank R. McCarter '51
REUNION
'50, '55
NOVEMBER
1995
recently retired from his position as personnel
manager of Litton industries. John K.
Pidcock '51 works in import/export and con­sulting
related to Japan at Rocky Mountain
international Co. He and his wife, Motoe, live
in Salt Lake City, lIT. Harry J. Petrequin, Jr.
'54 is an international development consultant
and lives in Black Mountain, NC. W. Doug
Buckmaster '57 is retired and lives in
Cambria, CA Walter A. Kellogg '58 is direc­tor
general at Klemp Corp., a metal fabrication
firm. He and his wife, Beverley, live in San
Diego, CA Donald H. Schmoldt '58 married
Nancy Carlson on January 8, 1993 in Washing­ton,
D.C. He is marketing and publicity direc­tor
with the 4th Wing, Services Squadron of the
Air Force in Goldsboro, NC. Leon W.
Townsend '58 retired from Chase Manhattan
Bank in 1987 and has become senior consul­tant
and advisor to small businesses at Public
AdrrUrUstration Service in the Russian Republic
of Georgia He and his wife, Valerie, live in
Tbilisi. John W. Campbell '59 has retired
from his post as a foreign service officer
at the U.S. Department of State. He and
his wife, Janice, live in Annandale, VA
Harold A. Fanning '59 celebrated his
40th wedding anniversary with his wife,
Florence, on April 16, 1994. He and his
wife are retired and live in Kaneohe, ill.
Robert E. Johnson '59 is an interna-tional
recruiter at Gaffney Management
Consultants, inc. He and his wife, Maria,
live in Rolling Meadows, lL. Gary L.
Sisler '59 is manager of investment
sales at Colliers interamerica, a com-mercial
real estate firm. He and his wife,
Barbara, live in Miami, Florida, and
report it has taken two years to rebuild
after Hurricane Andrew.
1960·64
Bnrtt F. McKee III '60 is P.l. adminis­trator
at Ron Petica, P.C. He and his
wife, Delores, live in Bullhead City, AZ.
Jon E. Tucker '60 has retired from
Monsanto Co. and is living with his wife,
Astrid, in Nathrop, CO. Dan Moriarty
'61 is retiring to his Monona, Wisconsin
home after working for 30-plus years in
overseas development for the World
Council of Credit Unions and Catholic Relief
Services. John Rutten '61 is a Spanish
teacher at Devils Lake Public Schools. He and
his wife, Mary, live in Devils Lake, ND. Gerald
C. van der Klomp '61 is a developer of golf
driving ranges, gaming casinos and theater
entertainment complexes on indian reserva­tions.
He lives in Palm
Desert, CA Lewis R.
Brine '62 is vice-president
and works in international
private banking for Brazil
at Bankers Trust Company.
He and his wife, June, live
REUNION
'60
NOVEMBER
1995
UPDATES
in Coral Gables, Fl.. Richard E. Hayes '62 is
resident advisor of AmTrade international
Bank and international director of Banco
Mercantil de Descontos. He and his wife, Jane,
started instituto Souza Novaes, a program that
uses culturally adapted AA principles to treat
chemically dependent men and women. He is
also partner in an Atlantic Rain Forest presen­tation
project. He and his wife live in Sao
Paolo, Brazil. John W. Ziebarth '62 is manag­ing
director of Lexington Assoc. in New York
City. He is currently assisting Arthur D. Little
to develop and expand their Latin American
management consulting practice. George
Fugelsang '63 is North America chief execu­tive
of Dresdner Bank, AG. in New York City.
John R. Huminski '63 is international sales
manager at Atlanta Attachment international.
He and his wife, Nancy, live in Dacula, GA
Richardson B. Smith '63 is self-employed as
a commodity futures trader and lives with his
wife, Laura, in Kiawah lsland, SC. J ohn Votta
'63 has recently retired from the U.S. Depart­ment
of Commerce. He lives in Richmond, VA
David B. Goldman '64 has retired as presi­dent
of his real estate development firm and is
full time travel and restaurant columnist with
the Los Angeles Times and South Coast
Community Newspapers in Santa Barbara,
CA TIlOmas E. Jones '64 is general director
at Gerber Products Co. in Mexico. He and his
wife, Maria, live in Mexico City. Luis C. Pi­Sunyer
'64 works as credit administration
vice-president for First Mechanics Finance in
Bogota, NJ. Ronald O. Stearns '64 directs
marketing and sales at Remote Switch
Systems, inc. He and his wife, Phyllis, live in
Fort Collins, CO. John T. Tung '64 is senior
consultant at ABB Combustion Engineering,
inc., a finn specializing in power plants. He
and his wife, Joan, live in Oriental, NC.
Second careers just taste sweeter
for some T'birds. David B. Gold­man
'64 is now a fUll-time travel
and restaurant writer. He also serves as
director of the International Food Wine
and Travel Writers Association. The for­mer
president of David B. Goldman
Associates, Commercial Real Estate
Developers, has regular columns in the
Los Angeles Times and South Coast
Community Newspapers in Santa
Barbara, CA.
1965·69
Eva T. George '65 has relocated to Salem,
Oregon to serve as benefits coordinator for
Salem School District. Myron S. Kavalgian
'65 recently started Mill River Media, an inde­pendent
media representatives company, in
Fairfield, CT. Bailey Nichols '65 is senior
vice-president of operations at S.L. Waber, inc.
He and his wife, Elisabeth, live in Green Valley,
AZ. Jon C. Dyer '66 works as commercial
director of Quaker Oats Co. in Guaynabo,
Puerto Rico. Michael M. Feeney '66, staff
procurement analyst at the Department of the
Anny, wrote in with the news that his wife,
Carolyn, died on June 10, 1994. He lives in
Sierra Vista, AZ. Oliver Ford '66 has recently
become executive director of Minnesota State
University-Akita (Japan). He lives in St. Paul,
MN. Bruce L. Wilson '66 is owner and direc­tor
of Protei Communications, inc., a firrn spe­cializing
in telecommunications. He lives in
Bend, OR. Ralph Bailey '67 is owner of
Ridgefield Search international, a recruitment
firm focusing on multinational manufacturing
firms in Latin America, Asia, and the Middle
East. He lives in Ridgefield, CT. J ohn H.
Dunmar '67 consults for the Dunmar
Organization, a marketing and advertising con­sulting
firm in Stamford, CT. Jose Polis '67
works as managing director for Deckers
CD.P.C.), a medical equipment company. He
lives with his wife, Claudine, in Liege, Belgium.
Dean M. Ross '67 is a self-employed real
estate development and hospitality consultant.
He lives in Puerto Vallarta,
Mexico. Richard "Dick"
A. Schiendler '67 is an
associate at Tax &
Financial Group. He and
his wife, Mary Cutl'e '68,
live in lrvine, CA Eugene
REUNION
'65
NOVEMBER
1995
C. Sullivan '67 and his wife are retiring after
spending 25 years in Asia They live in New
Smyrna Beach, FL. Ronald T. Alonzo '68 is
marketing vice-president at Somat Corp., a
waste reduction and water treatment equip­ment
firm in Coatesville, PA Ken Banks '68 is
vice-president of marketing at Circuit City
Stores, inc. He and his wife, Sandi, live in Glen
Allen, VA David R. Mcintyre '68 is self­employed
as a commercial real estate broker
and lives in Miami, FL. Finley Middleton '68
is an elected vice-preSident of Chubb-Europe
and legal representative and manager for
Chubb-Italy. He and his wife, Carole, live in
Milan, Italy. Robert W. Repsher '68
has retired and is now living on Kiawah
lsland, SC. H.J. Santo-Coloma '68 is
CEO of Santco Holdings, Ltd. a holding
company in Coral Gables, FL. Dale
Stephens '68 is systems manager­logistics
at American Stores Co., a gro­cery
and drug store holding company.
He lives in Salt Lake City, lIT. Brian
Gauler '69 serves as director at the
University of Missouri in Columbia,
MO. Thomas A. Hoover '69 is self­employed
and living in Tempe, AZ.
Manfred Lo Locher '69 is working
with European and American partners
on business ventures. He travels with
his wife, Angelika, throughout Europe
and lives in Munich, Gennany. John W.
Stanger '69 serves as group vice-presi­dent
at ABN Amro Bank, N.V. He and
his wife, Kerry, live in Chicago. J ames
A. Wood '69 is vice-president at
Huber, Hunt & Nichols, inc., a firm spe­cia1izing
in professional sports stadium
and arena design and construction. He
and his wife, Deborah, live in Paradise
Valley, AZ.
1970·72
Guido F. Antezana '70 is an international
banking consultant and lives in La Paz, Bolivia
Edward George Borgens, Jr. '70 is presi­dent
of Automated Snacks
Corp./Solar Gourmet Corp.
He and his wife, Helen, live
in Phoenix, AZ. A. Douglas
Gilmore '70 is director of
international operations at
Eddie Bauer, inc. He and
REUNION
'70
NOVEMBER
1995
his wife, Joy, live in Bellevue, WA. J ohn A.
Moore '70 is president ofWorldlink, Ltd., a
firm specializing in market research. He and
Richard Hayes '62
John W. Stanger '69
Austin M. Seay '70
John E. Hamilton '71
THUNDERBIRD XLIX 121 1995 23
UPDATES
Committed to Building an International Presence
When George Fugelsang first gradu­ated
from Thunderbird in 1963, he was
recruited by Citibank to help build a local
banking presence in Latin America.
"In those days, cross-border lending was
almost non-existent and only done on a sea­sonal
basis, very short-term in nature," says
Fugelsang, who is now chief executive,
North America for Dresdner Bank AG.
"But because of this early commitment in
South America, Citibank managed to accom­plish
a task 30 years ago that is still difficult
even today."
That doctrine of commitment to the inter­national
arena must have been absorbed by
Fugelsang, however. By the time he left
South America in 1979, he had become
senior vice president and area corporate
officer for Peru, Bolivia, Chile, Paraguay,
Uruguay, and Argentina.
Anned with the success of his experience
in South America, Fugelsang was sent to
Germany to take over the central, southern,
and eastern European region for Citibank.
"I think my experience in Latin America was
helpful in understanding the pitfalls and dif­ficulties
in trying to establish a competitive
presence in someone else's market," says
Fugeisang.
In Germany, the philosophy behind the
T'bird experience-that of fostering busi­ness
relations through greater understand­ing-
eontinued to play an important role.
Fugeisang started a program in which young
Germans working for mid-sized companies
could come to the U.S., visit American com­panies,
and learn more about how they con­duct
business.
24 THUNDERBIRD XLIX 12 1 1995
"The program improved cultural under­standing
at a critical period in history," says
Fugeisang, "and also provided valuable
experience for the young people involved. "
After 23 years with Citibank, Fugeisang
moved to Morgan Stanley in London as man­aging
director for the Financial Institutions
Group for Europe. Eight years and many
successes later, he and his experience were
lured away by Dresdner Bank Group.
Today Fugelsang is based in New York City
as part of one of the world's largest banking
operations. He is responsible for all Dresdner
Bank Group's activities in North America,
including Canada,
Mexico, and the U.S.
"My experience at
Thunderbird still
serves me today," says
Fugelsang. "Major cor­porations
appreciate
qualities such as mobil­ity,
flexibility and being
interested in the world.
Everyone likes stabil­ity,
but it is also impor­tant
for global
"In those days,
cross-border
lending was
almost non­existent
and
only done on
a seasonal
basis."
companies to be able to move people
around, both to broaden the experience of
the people who are moving, and also to
resolve problems and take advantage of
opportunities. "
Fugelsang believes that this level of
mobility and adaptability is more likely to be
found in a group of students at Thunderbird
than elsewhere: "Thunderbird has always
been a place to find business people who
are committed to building an international
presence."
Diversity and multicultural experi­ence
are also qualities that Fugeisang
believes sets T'birds off from the
pack. "The diversity of the student
body, the different backgrounds and
the natural international orientation
are still more global and multifaceted
than at most schools. The apprecia­tion
that the U.S. is not the center of
the universe is something that Thun­derbird
got across to me right away."
As much as Fugelsang values those
qualities that have been part of the
Thunderbird experience since its
start, he also believes that Thunder­bird
has continued to change, along
with the world. "Today more lan­guages
are offered and more-sophisti­cated
international financial courses
taught, " notes Fugeisang. "The
School continues to improve. But
that's why Thunderbird is still
around, isn't it?"
-By Jeanene Edwards
George Fugelsang '63
his wife, Marsha, live in Milwaukee, WI.
Jerome A. Raggett, Jr. '70 is manager of
market development in healthcare at Sprint
Communications. He and his wife, Eleanor, live
in Overland Park, KS. William L. Roberts '70
is general manager of Caribbean operations for
Kodak. He lives in Carolina, Puerto Rico.
Austin M. Seay '70 manages marine opera­tions
in the Asian Pacific as vice-president of
Tidewater Inc. He and his wife, Margaret, live
in Singapore; their son and daughter live in the
U.S. James L. Walter '70 works as executive
director of Unity House, Inc. in Honolulu, lll.
Phillip E. Casey '71 is chairman and chief
executive officer at Florida Steel Corp. a mini­mill
based in Tampa, FL. Anthony B. DaSilva
'71 works as international land sales consul­tant
at The Genesis Group. He and his wife,
Sharon, live in Orlando, FL. Robert C.
Dewolfe '71 is CIS regional manager for Tetra­Laval
Oilfield Moscow. He and his wife, Kathy,
live in Houston, TX. Jon B. Dwinell '71 works
as audit group manager at Paccar Financial. He
and his wife, Mary, live in Redmond, WA John
E. Hamilton '71 is marketing director of
Crystal Forwarding, Inc. in Carlsbad, CA
Robert A. McBride '71 received an award for
Academic Excellence from Insurance Institute
of America He works as senior premium audi­tor
at Argonaut Insurance Co and lives with his
wife, Lydia, and their child in Long Beach, CA
Michael J. O'Shaughnessy '71 is the publish­er,
president and owner of Red Cross Books.
He organized the Book Fair in Guadalajara, the
largest publications event of its kind in Latin
America He also works with the State of New
Mexico organizing exhibits featuring the cultur­allife
of New Mexico. He lives with his wife,
Marianne, in Santa Fe. Cristobal R. Orozco
'71 is U.S. Department of State deputy chief-Qf­mission
at the American Embassy in the
Dominican Republic. He and his wife, Mariela,
live in Santo Domingo. Steven Shaw '71 is
president at PDR Mortgage. He lives in
Sausalito, CA Stewart H. Smith '71 is presi­dent
of the restaurant Hayden's, LLC. He and
his wife, Kathy, live in Tucson, AZ. Roby S.
Swan '71 is partner/managing director at CD
Warehouse International, Ltd. in London,
England. Edward C. Auble '72 owns Edward
Auble Associates, an insurance and financial
services firm in Paoli, PA He also taught inter­national
business at Immaculata College for six
years. Chase Ferguson '72 is senior director
of American Express Bank, Ltd. He and his
wife, Isobel, live in Singapore. William
Gambrel '72 is vice-president and general
manager of the First National Bank of Boston.
He lives with his wife, Dilcia, in San Juan,
Puerto Rico. William Hayes '72 is chief exec­utive
officer of Placer Dome, Inc., a gold and
silver mining company. He lives with his wife,
Mariana, in Santiago, Chile. Donald w. Hurst
'72 has earned certification as a Chartered
Financial Analyst (CFA). He lives in
Albuquerque, NM. Lawrence L. Martin '72 is
a professor at Columbia University. He and his
wife, Lella, live in New York City. Thomas R.
McMurry, Jr. '72 works as a controller for
Laflse Corp., a Central American financial ser­vices
company. He and his wife, Maria, live in
Miami, FL. Allen F. <>strole '72 is president of
Ostrofe Financial Consultants, Inc. He and his
wife, Sabine,live in Grass Valley, CA W. Neil
Sabin '72 works for AMFAC Resorts as vice­president
of marketing. He and his wife,
Michele, live in Flagstaff, AZ. Guenter Walz
'72 is managing director at BMW Sverige, AB.
He and his wife, Janice McIntyre, live in
Solna, Sweden. Robin H. Williams '72 is
senior consultant at Lee & Burgess Associates
of Colorado, a human resources consultancy.
He lives in Conifer, CO.
1973-74
Gary E. Adams '73 works as senior project
safety manager at Florida Gas Transmission
Co. He and his wife, Peggy, live in Tallahassee,
FL. Bernard Anderson '73 is president of
Terravest, Inc., a real estate ownership/man­agement
firm, in Scottsdale, AZ. Randall
Bishop '73 is a partner at Bishop & Bishop, a
firm specializing in corporate law and estate
planning. He and his wife, Lorraine Abell,
have four children and live in Pasadena, CA
Christopher T. Morrison '73 is vice-presi­dent
of business development at Inynco
Realty Partners, Inc. He and his wife,
Deborah, live in Coral Gables, FL. Michael
O'Shea '73 is president of Ameco, a firm spe­cializing
in translation and consulting. He and
his wife, Minako, recently relocated from
Tokyo, and now live in Glendale, AZ. Ronald
R. PfafJlln '73 is president of U.S. Agencies
International, Inc., a manufacturers' represen­tative
for the AsialPacific region. He lives in
Saipan. Perry David Smith '73 works as
managing director at Sonoco Asia Corp., a
paper and plastics packaging firm, in Singa­pore.
John Stevens '73 is vice-president of
corporate banking for continental Europe at
Bank of Nova Scotia He lives in W. Byfieet,
England. Richard T. Taylor '73 manages
product development for Serrot Corp., a
waterproofing company. He and his wife live
in Henderson, WV. Peter R. Wallin '73 is
senior vice-president at Socimer Advisory
Services Corp., a Swiss Investment Bank. He
lives with his wife, Sandy, and their four
daughters in Key Biscayne, FL. Daniel F.
Benton '74 works at JP Morgan in New York
City. Thomas Daly '74 is staff attorney at
Inland Counties Legal Services in Indio, CA.
Michael P. Duncan '74 supervises purcha&
ing for Tengizchevroil, an oil company, in
Tengiz, Kazakhstan. David P. Echevarria '74
is an assistant professor of finance at
Saint Joseph's University. He and his
wife, Voncile, live in Kennett Square,
PA. Michael H. McLafferty '74 is
international marketing manager at
Global Spectrum, an international
telecommunications firm. He and his
wife, Karen, live in Miami, FL. Alberto
Montezuma '74 is president of LEK
Industria e Comercio, Ltda., a women's
fashion manufacturer. He lives in Rio de
Janeiro with his wife, Rosalie. Eric R.
Weaver '74 serves at the U.S. Depart-ment
of Commerce as a commercial
attache. He and his wife, Jane, live in
Moscow, Russia
1975
S. Robert August is president of S.
Robert August & Co., Inc., a manage­ment
and marketing consulting firm. He
and his wife, Penny, live in Englewood,
CO. Dan Bariault is direct business
development chairman at The Belhaven
Group, Inc., an electronics R&D firm. He
lives with his wife, Stephanie, in Seattle,
WA Garrett R. Bowden is director at
Marcus & Millichap, Inc., a real estate
planning firm in New York City. John
Chamberlin is private banking regional
manager at Bank of America He lives
with his wife, Jackie, in Rancho Mirage, CA
Roger R. Esser is international sales manager
at Marshalltown Trowel Co. He and his wife,
LaMae, live in Granger, IN. John S. French is
operations vice-president for EMC Express, an
electronic media claims network. He lives with
his wife, Janie, in Carefree, AZ. Paul G.
Knollmaier is dealer development consultant
for Latin America at Caterpillar, Inc. He lives in
Dunlap, lL. Tom J. Landa is assistant treasur-
UPDATES
er at Exxon Company, U.S.A He and his wife,
Denise, live in Katy, TX. Jeremiah B. Lewis
works in sales for my Espresso of the
Americas. He lives with his wife, Nancy, in San
Francisco, CA Ghassan J. Majdalani is inter­national
regional sales manager at Raytheon
Appliance Group. He lives in Ripon, WI.
Kenneth N. May is vice-president and general
manager at Disney Vacation Development, Inc.
He and his wife, Mary Besser, are building a
new house. David W.
Patenge is executive
director at Morgan Stanley
& Co. International, Ltd.
He and his wife, Madeline,
live in London, England.
Jeffrey A. Seip is direc­REUNION
'75
NOVEMBER
1995
tor of finance at lscosh, a subsidiary of
Westinghouse, in Dammam, Saudi Arabia
Dennis L. Stanford is a buyer for Coca-Cola
International. He and his wife, Candace, live in
Pfaeffikon, Switzerland.
1976
James J. Beirne manages recruitment for
General Mills, Inc. in Minneapolis, MN. Bernd
Brand is international vice-president at
Burlington Air Express, Inc. He and his wife,
Erika, live in The Woodlands, TX. Brooks
Fields is loan officer at Northwestern
Mortgage Co. He lives with his wife, Barbara,
in Chandler, AZ. Melanie G. Fleek is knowl­edge
network coordinator at Ernst & Young in
San Jose, CA Steve Graybill is regional
director for KPMG Peat Marwick. He and his
wife, Marla, live in Prague, Czech Republic.
Lynnette Guzzino McFaull is director of the
volunteer lawyer program for the Northern
Kentucky Legal Aid Society. She resides in
Edgewood, Kentucky with her husband,
Roderick. KIrk D. Haws works for Marubeni
Bobcat Sales Company as executive vice-pres­ident.
He lives with his wife, Irene, in
Michael O'Shaughnessy '71,
editor-in-chief of Red Crane
Books, helped organize what
he says is "the largest such event in Latin
America, H the Book Fair in Guadalajara,
Mexico last Nov. 26-0ec.5. The annual
event draws more than 350,000 people
during its 10-day duration, and receives
notable media attention all over Latin
America. Michael worked with the State
of New Mexico and the University of
Guadalajara in putting together an
exhibit that featured the cultural life of
New Mexico.
Yokohama, Japan. Debra A. Hyman is direc­tor
of client services at John Ryan Co., a retail
marketing consultancy for the banking indU&
try. She lives in Madrid, Spain. Leon
Maynard is owner of The Leadership Center
and lives with his wife, Jolene, in Eagle, ID.
Grant P. Miller is vice-president of business
development at Baskin-Robbins International.
He and his wife, Becky, li

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Full Text

The American
GTaduale
School oJ
International
Volume XLIX,
Networking on (ompuServe PAGE 14 • Executive Education PAGE 12 • Letter From Peru PAGE 40
Thllllderbird
6 9., \6:
6:392 6.843 8.962 11 .978 11.149 10.269 Not Your Father's
13.120
9.268 9.410 8.131
10.459
16.578 17.391 16,813 Oldsmobile 16,614
47.064 49.083 50.122
42,984
44,122 44.733 47.581 47,499 Changes in the financial
10,549 12,831 15.726 \7 ,925
1:1;991 12.937 13.886 12.184 services industry are both
11,112 11 .033 10.120 9.943 ~; ;;:- exciting-and unnerving,
21.345 30.522 34.589 37.381 ":j~u
24.351 24.911 26.131 29.143 25 Jl
12 14 40
Executive Ed Surfing Letter From
Excels Thunderbird Peru
Fifty years of experience Alumni worldwide "By day the military
is paying off-in about are benefiting from controlled the city, but
five million ways, CompuSeIVe's in the night Sendero
2
10
16
18
Thunderbird forum, ruled,"
News
New Construction, ABCs Open, National Rankings, and more,
Alumni Commentary
Why not create a multicurrency facility? asks Carl Deddens '81.
Charitable Remainder Trusts
Eliminate capital gains tax through a charitable trust.
Network & Updates
T'bird news from around the world,
Thunderbird E-Mail Directory
Admissions:
Alumni Relations:
Career Services:
Communication:
johnsor\j@mhs.t-bird,edu
combes@mhs,t-bird,edu
casej@mhs,t-bird.edu
croweIln@mhs,t-bird,edu
mcmillat@mhs,t-bird,edu
'Thunderbird Magazine
Volume XLIX, Issue 2
1995
A publication of the
A1unmi Relations Office of
'The American Graduate
School of International
Management, 15249 N, 59th
Avenue, Glendale, AZ
85306-6006
(602) 978-7135,
FAX (602) 978-6814
Assistant Vice President for
Communication and Editor:
Nelda S, Crowell
Managing Editor:
Thomas McMillan
Contributing Editor:
Panl Selthun
Contributing Writer:
Mary Mitchell
Conununication Secretary:
Gwen Swanson
Editorial and Production
Assistants:
Reid Behrendt
Jeanene Edwards
Kristi Howell
Andrew Sagartz
JeffUnze
Design:
Pat Kenny Graphic Design
Assistant Vice President
of A1unmi Relations
and Giving:
Susan Combe
Assistant Director of
Alumni Relations:
Michelle Olson
A1unmi Relations Staff:
Advertising Director:
Janet M, Mueller
Receptionist/Secretary:
Cindy Hepburn
Receptionist/Clerk:
Chris Mosakowski
Submissions may be
sent electronically to
Nelda S, Crowell, Editor,
tlu'ough the Internet:
crowelln@mhs,t-bird.edu or
through tile CompuServe
Thunderbird Forum
72662,3422.
ThlUlderbird Altmmi
Association 1994-1995
Board of Directors and
Officers:
Chairman of tile Board:
Stephen K. Orr '79
President:
H, Gene Wick '60
Vice Presidents:
Michael Dillon '78
Maarten Fleurke '79
Thomas D, Hobson '79
Linda J. Magoon '84
Acting Secretary:
Michelle Olson
Ex Officio Members:
Roy A. Herberger, Jr.
Jolm E. Berndt
Jolm C, Cook '79
President, Associated
Students Legislative Council
Board Members:
George T. DeBakey '73
Michael T. Dillon '78
Webb F. Elkins '63
Thomas L. Guetzke '86
Christopher P. Jolulson '86
Larry K. Mellinger '68
McDiarmid R. Messenger '72
Carolyn Polson O'Malley '70
Joseph A. O'Neill '80
Richard E, Ragsdale '67
Mike A. Santellanes, Sr, '60
Martha S. Van Gelder
Gypton '88
Honorary Board Members:
Joseph M. Klein '47
The Alumni Relations Office
has implemented a new data­base
software to better main­tain
and enhance ilie thunder­bird
network. A1unmi data
continues to be released to
the Thunderbird conununity
only for nonconunercial pur­poses.
Please contact A1unmi
Relations if you do not want
yOIU' name and preferred con­tact
information given to your
peers upon request.
Thunderbird, The American
Graduate School of Inter­national
Management, is com­mitted
to non-discriminatory
practices in employment,
admissions, and educational
programs and activities. thun­derbird
is an equal Opportlmi­ty,
affmnative action employ­er
tilat complies with applica­ble
federal, state and local
laws, statutes, orders and reg­ulations
prohibiting discrimi­nation
on ilie basis of race,
color, religion, national origin,
gender, age, disability and vet­eran
status,
r--------------------------------------------------------------
THINK OF IT AS
GOING BACK TO THUNDERBIRD.
(BUT NOT HAVING TO GO TO CLASS.)
How does a Thunderbird
alumni travel program
sound? Relaxing vacations
with other T'bird friends.
Win a free trip. Custom
trips built around your inter­national
interests. Win a
free trip. Culturally enrich­ing
travel. Win a free trip.
(Hear what we're saying?)
WE WANT TO GO WHERE
YOU WANT TO GO
Thunderbird wants to devel­op
a special alumni travel
program built around the
unique
interests of
T'birds.
And the
collective
bargaining
power of
27,000
alumni.
First we
want to
you want.
Exotic destinations away
from tourists? Active, "off the
beaten path" trips with small
groups of friends? Culturally
enriching adventures? Costa
Rica, India, Denmark, New
Zealand, Africa, Greece .... The
possibilities are limited only
by what you tell us you are
interested in!
TAKE 5 MINUTES,
WIN $500
We want to hear from you.
Your preferences are the
heart of this program. If you
take 5 minutes to complete
the travel questionnaire at
right, we'll enter your name
into a drawing for a week­end
getaway valued at $500
(or apply the prize to one of
our program trips!). All
responses are confidential
and will be used only for the
travel program. * Return by fax to:
(602, 978·6814
Describe your "dream" vacation:
How many days could you realistically take for that
"dream vacation?"
o Less than seven days o 16-20 days
o 7-10 days o 21-25 days
o 11-15 days o More than 25 days
How much money would you spend per person on
your "dream vacation" including airfare?
o Less than $1,000 0 $3,000-$3,999
o $1,000-$1,999 0 $4,000-$4,999
o $2,000-$2,999 0 Over $5,000
How many vacations do you usually take per year?
How much time is it practical for you to be on
vacation? ______________ _
in what style do you normally travel?
o Luxury 0 Moderate 0 inexpensive
How much would you be willing to pay for a
vacation?
Weekend package $ ______ _
One week long $ _____ _
Two weeks long $ ______ _
Longer (Specify) $ _____ _
Would you participate in a travel program designed
for Thunderbirds?
D Yes 0 No 0 Maybe
What would entice you to participate in a
Thunderbird travel program?
What areas of the world are you most interested in
touring with a group? indicate your interest level for
each, with 1 = high, 2 = moderate, 3 = low or none.
Africa Middle East
Asia
Australia
Canada
Central America
_ Eastern Europe
Mexico
South America
United States
Western Europe
Other (Specify)
Which of the following would be of interest to you?
(Check all that apply.)
o Cultural sites
o Historical sites
o Natural wonders
o Tours that would enhance business
o Backpacking tours
o Traveling with special interest groups
o Luxury hotels
o Meeting local people
o Shopping for locally produced items o Other (Specify) _________ _
What mode of travel do you enjoy?
(Check all that apply.)
o Air o Bus
o Train o Biking
o Boat o Walking
o Other (Specify)
Would you be interested in a tour of the
Southwestern United States in conjunction with the
School's homecoming events in November?
D Yes 0 No 0 Maybe
Suggestions:
Would you enjoy traveling with a group that
included: (Check all that apply.)
o Thunderbird alumni only
o Thunderbird alumni and family members
18 years or older
o Thunderbird alumni and family members
under age 18
o Thunderbird students
o Thunderbird faculty
o Other professionals who are experts in the
region to be traveled
o Other (Describe)
Would you be interested in a global business
seminar segment with your tour?
DYes 0 No 0 Maybe
if yes, what topics would be of interest to you?
Would you volunteer to assist with groups of T'bird
alumni visiting to learn about your city, country or
region of the world?
D Yes 0 No 0 Maybe
indicate the percentage of unstructured time you
prefer on a tour:
o None
o Less than 25%
0 25%
050% o 75%
o More than 75%
Please attach any additianal comments.
Name ______________ _
Class year ___ _
Home address, ___________ _
Employer ____________ _
Business address, ____________ _
Title, ______________ _
Fax # ______________ _
Return by fax to (602) 978-6814 or mail to
Thunderbird, Alumni Relations, 15249 N.
59th Avenue, Glendale, AZ 85306-6006
L _____________________________________________________ ______________ ~
New Construction Projects Create
More Modem, Functional Campus
New Residence Hall
Replaces B Dorm
A new residence hall will
soon replace the old "B Dorm"
which was razed in December.
The modern facility will follow
the prototype of the new Resi­dence
Hall A, completed in 1992.
The two-story building will have
56 rooms, nearly double the size
of the original B Dorm. Con­struction
will begin in July with
completion expected in January,
1996.
Even before the new resi­dence
hall is completed, the
central quad will take on a fresh
look with construction of an
amphitheater-style activity area.
The new area will be used for
concerts, club activities, barbe­cues,
receptions, and small spe­cial
events. The swimming pool
is also being renovated, includ­ing
the installation of new decks
and landscaping.
THUNDERBIRD XLIX 12 I 1995
The planned addition of the
new dorm and dining facility
(see below) makes a total of
eight new construction projects
completed in the past five years
at Thunderbird. Other recent
campus improvements include
year-round floral landscaping;
the remodeling of Founders
Hall, the old auditOrium, and the
Bookstore area; and a new main
entrance.
Simulated Trading Floor
Planned
The recent transfer of all
library functions to the Inter­national
Business Information
Centre (IBIC) has opened the
door for new uses of the old
Barton Kyle Yount III '71, grandson
of the School's founder, and his son
visited the former Yount Memorial
Library in March.
library building. Interior renova­tion
plans for the Barton Kyle
Yount Building include a multi­media
center, a simulated trad­ing
floor, several seminar and
meeting rooms, a publications
office for academic journals,
and separate offices and class­rooms.
The trading floor will simu­late
financial and foreign cur­rency
and commodity trading
activity for the classroom. "The
floor will simulate the real trad­ing
activity that graduates might
experience in the working
world, complete with electronic
displays around the room," says
finance professor John Mathis.
The Multimedia Center, cur­rently
housed in the former
president's house, will serve as
a resource for faculty develop­ment
of multimedia applications
as well as other campus applica­tions.
Office space in the remodeled
Yount building will accommo­date
the administrative staff of
Information Technology Ser­vices.
The renovation project,
which is expected to take
approximately 10 months, will
begin this fall.
Food Court, Thunderbird
Style
A new dining facility will
introduce a contemporary con­cept
of food service to Thunder­bird-
the food court. The new
facility is expected to include
cafeteria-style service, as well
as outlets of popular fast food
franchises. Plans also include
one or more sections for formal
food service at individual tables.
The food facility, which will
replace both the Crossroads
Coffee Shop and the Dining
Hall, will be located between
the Tower Building and the stor­age
hangar.
Tentative plans for the old
dining hall are to use it for exec­utive
education, one of the
fastest growing areas at Thun­derbird,
as well as study rooms
and office space. Construction
is expected to start in the fall of
1995, with completion in time
for the 50th anniversary in the
fall of 1996.
Changes in Southwest
Corner of Campus
All but two of the old faculty
residences located on the south­west
corner of campus have
been sold, hoisted onto trans­port
flats, and removed for use
elsewhere. The area is being
redesigned as a garden with
attractive desert landscaping
and possibly some picnic areas.
Plans are for the former presi­dent's
home to house the Thun­derbird
archives project, as well
as a reception area, meeting
facility, and retreat center.
The former home of the late
Berger Erickson is currently
being used as the executive
offices of the YMCA. Future
plans call for construction of a
YMCA adult fitness center,
including a swinuning pool, aer­obics
room, weight center, and
racquetball courts.
-By Nelda Crowell
Thunderbird Leapfrogs
Wharton, Harvard in
U.S. News Ranking
u.s. News & World Report
ranked Thunderbird among top
B-schools for international busi­ness
in its annual survey of
"America's Best Graduate
Schools." This is the first year
Thunderbird was eligible for
ranking, as a result of accredita­tion
last April by the AACSB
(American Assembly of Colle­giate
Schools of Business).
"We're proud that the employ­ers'
perceptions of the institu­tion
are close to our objectives,"
said President Herberger of
Thunderbird's number two
ranking ahead of Wharton (#3),
Columbia (#4), and Harvard
(#5). "Now all we have to do is
get the deans and MBA program
heads to recognize the differ­ences,"
he added-in reference
to The University of South
Carolina's number one ranking.
The ranking was based on a rep­utational
survey of corporate
recruiters, business school
deans, and MBA program heads.
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THUNDERBIRD XUX /21 1995
A troubling wake-up
call from the financial
markets alerts the
world to a new order.
Revolution might be too strong a word to
accurately describe what is going on in
today's global financial markets, but it
certainly captures the feeling of the moment.
Over the past year one shock wave after another
rippled through the world financial industry,
each time with relatively little warning.
Consider the following 1994 milestones in disas­ter:
• Hedge fund manager George Soros,
who in 1992 captured a billion dollars in three
days by edging Great Britain out of the
European Exchange Rate System, lost $600 mil­lion
when interest rates jumped unexpectedly.
• Derivative disasters cost Procter &
Gamble reported losses of $157 mil­lion,
Air Products & Chemicals $122
million, and Orange County, Calif. $1.7
billion in public monies.
• Mexico, long considered a model
for emerging markets, was forced to
seek a $53 billion bailout after debt
and lack of hard cash sent the peso
crashing.
More recently two veteran institu­tions
joined the disaster club: Barings
PLC merchant bank was destroyed
overnight by $1.3 billion in losses on
derivatives incurred by 28-year-old
futures trader Nick Leeson. And in
THUNDERBIRD XLIX 121 1995
March that leader of global currency,
the U.S. dollar, crashed hard against
the German mark as investors and
traders retreated from the dollar's long­standing
monopoly as the currency of
choice.
What's going on? Is this year-long
volatility a sign of imminent collapse?
Or just the growing pains of a new
world financial order? Probably the lat­ter,
says Dr. John Mathis, professor of
international banking and finance .
While disasters of the past year high­light
new risks to guard against, "over­all
the financial arena is sound," says
Mathis. In fact, experts say the arena
•
has become so global, so immense, so
interconnected-and so market dri­ven-
that perhaps no single event is
strong enough to collapse the entire
system. "The fmancial markets have
become much deeper and richer," adds
Mathis.
And why wouldn't this be so? With
literally trillions of dollars coursing
through its veins, the market appears
to be developing its own system of
punishment and reward, checks and
balances. Unlike the world of Bretton
Woods, the new financial order no
longer recognizes the sovereignty of
specific countries, currencies, or mar-
Pains
kets. Instead, it sees the entire global
economic system as its playground. In
a sense, the new world market itself is
developing its own sovereignty: Walls
that once existed between markets,
countries, and currencies are being
pulled 90wn, just like the Berlin Wall.
"The world is changing, and the
shifts in markets are no longer just
domestic, they are global," notes Chris
Matlon '66, senior vice president of
Chase Manhattan Bank.
The world currency crisis this past
March provides a good example of
how the new global order is controlling
countries, capital, and trading, accord-ing
to Dr. Taeho Kim,
professor of economics
and international bank­ing.
Amid fear of the
crashing peso and an
unresponsive U.S.
Federal Reserve, global
money managers didn't
hesitate to dump Euro­currencies
and dollars in
favor of the more robust
German mark. By shift­ing
in record numbers
away from the dollar to
the stability and safety of
the Bundesbank, traders
generated a massive shift
in global currency flows
and economic power.
Turns out that the U.S., long the preem­inent
repository of the world's reserve
currency, is just another player at the
table in this new global order. "A water­shed
in global finance that had been a
long time coming," said Business Week
of this historical shift in the global
financial order.
Who or what is behind this shift?
Indicators suggest that the shift is a
result of the millions of individuals and
institutions who, in the boom of the
early 1990s, eagerly pumped their
money into the surging and enor­mously
profitable global markets. This
new ruling class is a fundamentally dif-ferent,
more demanding, more profit­hungry
master than the banks and
development agencies that in the past
provided the world's capital supply.
Perhaps more important, it is a global
class of investors that, thanks to tech­nological
leaps, can act rapidly and
with more information than ever
before in history. In the new order
money flows very quickly, with mil­lions,
even billions moving in or out of
an economy in seconds. "In order to
survive in to day's trading world, you
definitely need a strong understanding
of the complex interrelationship
between international economics and
business," says Emilio Lamar '78,
managing director of International
Emerging Markets at Merrill Lynch.
European Union. Of course the U.S.
is certainly not the only country in
reach of the long arm of the new finan­ciallaw.
According to Chris Johnson
'86 of the Bank of Nova Scotia, many
European nations are experiencing
similar negative effects of currency
gyrations and shifting investments.
Like their cousin the dollar, currencies
in Britain, Spain, France and Italy are
being driven to record lows against
the mark. And as the mark's strength
grows, the European Union's plans for
a unified European economy with
open trade borders, a stable unified
currency, and controlled inflation are
in doubt. Many countries are having to
defend against the mark by hiking
interest rates. Not to mention the
harm being done to the European
free-trade zone as a result of mis­aligned
currencies. Essentially, trade
barriers created by the swings in
devaluations of currencies and the
rise in interest rates (installed as pro­tective
measures against the mark)
will eventually cause de facto trade
wars among EU members.
"These misalignments are creating
opportunities for cross-border acquisi­tions,"
says Johnson. "Many companies
are looking to take advantage of the sit­uation.
That might be good or bad,
depending on what side of the acquisi­tion
you're on." Ironically, Germany
itself might also be hurt by the mark's
gravitational success, as German
exports (a vital part of Europe's recov­ery
plan) will surely be restrained and
economic recovery slowed. How
Europe will be able to achieve its
THUNDERBIRD XLIX /2 / 1995
Leaders in Global Finance
Skill requirements for the finance profes­sion
have significantly changed over the
past decade as globalization, deregulation,
and new technologies have altered the
industry's landscape. At Thunderbird, the
finance curriculum has both adapted to
those changes-and kept its core focus on
developing solid managers.
"We approach the financial curriculum
from a managerial perspective," says Dr.
Michael Moffett, associate professor of
finance. "We recognize that there are new
techniques and technologies, but ultimately
these always come down to the hands of
the user. Our focus is on developing solid
managerial skills and knowledge, not finan­cial
fashion. "
Today Thunderbird offers students a rig­orous
set of fmancial courses that build
core analytical skills as well as in-depth
knowledge of emerging business practices.
"Deep understanding of financial engineer­ing
wasn't needed five years ago." notes
Moffett. "Today all size firms in all coun­tries
have to deal with these issues, and so
do our graduates."
Thunderbird's financial curriculum fea­tures
advanced courses in global banking,
commodity price risk management, finan­cial
engineering and derivatives, interna­tional
securities investment, multinational
corporate finance, global portfolio manage­ment,
international investment banking,
and financial statement analysis.
According to Moffett, this international
8 THUNDER81RD XUX 12 I 1995
Dr. Michael Moffett
financial curriculum is one of the strongest
in education today: "We recently approved
the advanced corporate finance course as a
requirement of all, students. We have a mix
of 5000-level electives that exceeds any
major school in the country. And we've got
the FORAD model game (part of multina­tional
corporate finance) which is unique in
North America
Risk Management. One curriculum area in
which Thunderbird stands alone is risk
management. "I don't know of any other
school that covers risk management like we
do," says Dr. Llewellyn Howell, chairman of
the International Studies Department at
Thunderbird. "Other schools have chapters
in books or offer it as part of a course, but
nothing like the cross-functional integration
here."
Thunderbird's curriculum integrates
financial skills and lmowledge with a care­ful
study of the political, economical, and
cultural dimensions of international mar­kets.
The result is that students address the
question of financial risk management from
all sides.
A good example is Dr. Howell's course in
Political Risk and Global Change. "We
approach the risk analysis from a quantita­tive
perspective, which is essential to effec­tive
risk management. You can't just guess
risk by intuition. We want our students to
lmow what risk is, how to measure it, and
how to minimize it, " notes Howell.
dream of fonning a seamless, unified
economy in the face of the new finan­cial
order is yet to be seen. What is cer­tain
at the moment is that the world
market itself is expressing doubt about
Europe's shot at economic unification.
Emerging Markets. Growing pains
are being felt in many emerging mar­kets
as well. Take Mexico for example.
Before the peso lost half its value at the
end of 1994, Mexico was viewed by
many investors as the "model" emerg­ing
market of the new world economic
order. Mexico's U.S.-trained tech­nocrats
did everything that investors
asked for in order to be rewarded with
strong currencies and thriving domes­tic
markets. They opened the country's
markets to free trade and foreign
investment, they reduced inflation, and
they privatized state enterprises. This
marriage of convenience was short
lived, however.
In December, as Mexico depleted its
hard-currency reserves in an attempt
to bolster the peso, foreign invest­ments-
the same ones that instigated
the boom market-deserted the coun­try.
Even now, in spite of a $53 billion
U.S. bailout, the peso has not regained
its former stature as wunderki nd. And
the realization is setting in that as
emerging markets develop, investors
can expect periodic bouts of volatility
and panic. "Opportunities in emerging
markets offer some of the best growth
and return potential, but also some of
the highest risk because of changing
political, social and economic factors,"
says David Hu '82, managing director
of the Emerging Markets Debt Group
at Smith Barney.
Unfortunately for Mexico, the peso
crisis has given everyone else a first
look at just how risky and fickle the
new global financial order is, particu­larly
when proper safeguards and con­trols
are left lying on the investment
drawing board. According to Carlos
Roberto Ortiz Nascimento '79,
director of Banco Real de Investimento
in Brazil, the probability of a similar
crisis occurring in Brazil are unlikely
precisely because his country has built
in close to $40 billion in cash reserves
as a safeguard. Still, emerging market
countries need to be very careful. "The
ramifications for mistakes are gigantic
and often instant," says Dr. Llewellyn
Howell, chairman of the International
Studies Department and leader of
Thunderbird's Political Risk and
Global Change course.
While the new global order may be
fickle, it is also predictable to a certain
extent. As the saying goes: If you build
it, they will come. In late April, Chicago
Mercantile Exchange traders plan to
revive the peso futures market in an
attempt to restore some stability to the
battered Mexican currency. Country
experts are hoping that futures trading
and other market-stabilizing mecha­nisms
will salvage the economy by
encouraging liquidity in the market,
reducing the volatility of the exchange
rate, and hastening the peso's recovery.
Recovery or not, the Mexican
episode points out a potentially
disturbing fact about how the
new financial order will treat
other emerging markets. "Six
months ago we were the darling
of the market," Ariel Buira Seira,
de~uty governor of the central
bank, told Business Week. "Then
they went to the opposite
extreme. This is very unfair."
Clearly fairness is not an invest­ment
criteria of the new financial
markets.
Derivatives. A common thread
running throughout last year's
financial disasters was the
mishaps with derivatives, now
standard equipment for both
financial institutions and compa­nies.
Considered one of the most
powerful tools of the new finan­cial
order, derivatives are per­haps
the greatest innovation in
the financial markets in the past
quarter century. "Derivatives will
continue to be part of the finan­cial
landscape for a long time,"
says Carl Deddens '81, vice
president and treasurer at
Revlon.
On a basic level derivatives are finan­cial
contracts written between two par­ties,
and have a value that is "derived"
from the value of some underlying
financial element or indicator, such as
commodities or interest rates or a stock
market index. Of course, that simplistic
description belies the dangerous nature
of derivatives and their potential for
causing disaster in the new fmancial
markets.
When utilized wisely, derivatives
make the new financial world simpler,
because they give their buyers the abil­ity
to manage and mitigate risk. But
derivatives can also be a doubl~dged
sword of immense power. In fact, in
wrong or inexperienced hands, deriva­tives
are a powerful leveraged mecha­nism
for actually creating risk.
"In-depth understanding of fmancial
engineering wasn't needed five years
ago. Today, all size firms in all countries
have to deal with these issues," says Dr.
Michael Moffett, associate professor
of finance.
To begin with, given the bewildering
variety and complexity of customized
derivatives, trying to value these instru-ments
is a true Herculean effort. Then
there is the tendency of the global mar­kets
to do what they wish, including an
occasional bout of turbulence-and
that means derivative disaster. The bad
guy last year was interest rates, which
rose with a suddenness unexpected by
most of the world. Unfortunately,
many companies are taking on com­plex
derivatives with dollar signs in
mind, believing that they can outguess
the market's movements.
Managing Risk. From a broader mar­ket
perspective, too many corporate
managers and banking institutions
are neglecting to understand the enor­mous
complexity and potential for
disaster of these highly-leveraged
instruments. Lack of controls in the
new order is all the more dangerous
when dealing with financial instru­ments
whose value can fluctuate
wildly on even minor movements in
currency prices, interest rates, or
stock indexes. And of course global­ization
and the speed with which
transactions can move today mean
that once problems occur, they can
spread more quickly than ever before.
"I've seen a growing con­cern
among companies in
how they are evaluating their
foreign exchange and deriva­tives
risks as a result of these
shifts in the global market­place."
says Chris Johnson.
"Many companies are ques­tioning
the wisdom of assess­ing
corporate-wide risk from
several offices scattered
around the world."
While market regulators
have resolutely toughened up
their act, it remains in ques­tion
whether their attempts
to neutralize the problems
are a match for the actual
seriousness of the problem.
It is also in question as to
who is leading whom:
"Regulators are mostly react­ing
to changes in the market
place rather than leading,"
says Dr. Kim.
So what are the lessons to
be learned about the new
global financial order from
the derivatives' debacles, as
well as from the other finan­cial
disasters of the past
year? Lesson number one:
Don't underestimate the power and
reach of the new financial order.
Lesson number two: Expect the
global market to dish out its own dis­cipline,
often in swift and severe
doses. The world is connected now.
Growing pains are inevitable.
The financial world has changed­and
that means the whole world has
changed. •
- By Tlwmas McMiUan
THUNDERBIRD XUX 121 1995
ALUMNI COMMENTARY
Why Not Create A Global Multicurrency Facility?
• By Carl. J. DedJtens '81, Vice President and Treasurer, Revlon Inc.
In this age of techno-globalization, the existence of an
international multicurrency facility that would allow
companies to shift easily between currencies and coun­tries
to meet financing needs would seem a given.
Not so. Consider the facts: The majority of international
corporations finance worldwide operations through a multi­farious
collection of domestic revolving credit facilities,
commercial paper programs, and foreign credit lines. Often
these services are provided by a diverse group of financial
institutions which have no common link in anyone credit
agreement This often translates into divergent inter-creditor
interests. In addition, those few companies that do utilize
global credit facilities are usually provided with only a lim­ited
number of borrowing currencies and funding options.
Why this apparent lack of flexibility? And, more impor­tantly,
what can financial executives do to obtain greater lat­itude
in financing arrangements?
The general answer to the first question is: that's the way
it's always been. And history suggests that unless pushed by
demand, the market has no imperative to respond with a
more flexible product. Maybe that's not so unreasonable.
Fact is, providing truly global fmancing arrangements is
complicated, both from a logistical and documentation
standpoint.
For example, large financial institutions can fairly easily
provide funding in major currencies such as sterling,
German marks, or Canadian dollars. However, providing
availability in Italian lire of New Zealand dollars-that's
another story. Many financial institutions either cannot (or
simply do not) want to be bothered with providing these
options. And just how does one han­dle
the mechanics of an agent bank
providing notices to a large group of
participants for the next day fund­ing
requirements-across different
time zones and multiple currencies?
Or the potential tax and legal impli­cations
of documenting cross-bor­der
lending arrangements?
Add to this list of woes the limita­tions
faced by some new players in
the financial markets. Remember,
money center banks are not the only
providers of "bank" loans today.
Corporations are borrowing their
term and revolving credit loan requirements from many
players: mutual funds, finance companies, U.S. branches of
foreign banks (four of the top ten banks in the U.S. are so­called
"super-regional" banks). The problem is many of
these players do not have capabilities in foreign exchange
markets, or have limitations imposed by charters or regula­tory
agencies.
So if a multicurrency financing facility is so complicated,
why would we want such an animal in the first place? The
answer is simple: It has the potential to do the job better,
much better.
1 0 THUNDERBIRD XLIX 12 I 1995
By rolling up a company's bank requirements into one
global package, management of the function becomes less
complicated. This can be particularly important if you are
doing business in 20 to 30 different countries, each with its
own separately negotiated and documented credit agree­ments,
all maturing at different times.
In addition, creating a consolidated
global facility could attract major finan­cial
institutions that otherwise would
not want to provide a series of smaller
credits. A combined facility provides
uniform pricing to all of a company's
subsidiaries. Reporting requirements
are also simplified by dealing with a
single agent bank. Moreover, having a
consolidated bank group eliminates
the intercreditor conflicts which can
exist with separate facilities.
From a financial standpoint, a global
currency facility ensures immediate
funding availability as a company
expands its existing business in a given
"Whywould
we want
such an
animal?
Simple:
It has the
potential to
do the job
better, much
better."
country or enters new markets. It also allows a company to
quickly respond to financial engineering opportunities. For
example, a company can quickly increase or decrease a sulr
sidiary's debt level to deal with a specific tax consideration
or capital structure requirement
The answer to the second question, "What can a financial
executive do to obtain increased flexibility?" is simple: Be
creative and forceful in dealing with your bankers.
Commercial banks today want to
earn advisory fees more than they
want to make loans. And they are
constantly bringing new and sophis­ticated
financial products to the
market place. If pushed by the cus­tomer,
odds are they can solve the
logistical problems associated with
a global facility.
Take the problem of institutions
not being able to fund in a particular
currency. This can be dealt with by
using a "fronting bank" concept,
where all loans in a particular cur­rency
are made by a single member
of the bank group. The other syndicate members share in
the loan income and have a contingent obligation to the
fronting bank (as if they had actually made a loan). This
arrangement also eliminates the need to provide borrowing
notices to multiple participants in different time zones.
Lastly, the issue of new financial players not being able to
participate in multicurrency financing at all can be solved by
creating separate entities that are designated strictly for
domestic U.S. dollar usage.
All said, the benefits of a global multicurrency facility far
outweigh the costs. •
~_5_0_ _Y_ E_A_RS_ O_F _G_ LO_ B_ A_L_ FR_IE_N_D_ SH _I_P _~ ~
IITHUNDERBIRD PRODUCES GRADUATES WITH THE
UNDERSTANDING AND SENSITIVITY TO MAKE A
GENUINE CONTRIBUTION TO WORLD PEACE AND
PROSPERITY .... I INVITE ALL TO SHARE IN THIS
VIS ION. " 'i Merle A. Hinrichs '65, Chairman, Asian Sources Media Group, Hong Kong
This November marks the beginning of Thunderbird's 50 year anniversary.
What better way to show your concern for world understanding than by
joining with 27,000 other T'birds and pledg-ing
your support for Thunderbird's valuable mission. LEVERAGE YOUR GIFT!
For 50 years Thunderbird has produced world ambassadors of
business and cultural understanding-people like yourself. The
strength of a Thunderbird education is found not only in the class­room,
but in the School's global reputation and vast alumni network.
~ Your contribution funds projects like the exciting new Inter­national
Business Information Centre (IBIC), and brings world­class
professors to the SchooL
~ <2.!Iality facilities and faculty increase the worldwide standing of
Thunderbird, and enhance the reputation of the MIM degree.
~ Alumni funds also help build scholarships and attract high­quality
students to Thunderbird, building a stronger alumni network.
For every .3 you donate spcci6caJly for support of
the c:xriting new International Business Informa­tion
Centre (IDIC), Merle A. Hinrichs '65 will
match an additional'1 up to S375,OOO.
Donate .500 or more, and your name will be
engraved on an exclusive plaque prominently dis­played
at the mlc entrance.
Help preserve Thunderhird's important mission. Pledge today.
Donations will be recognized with the following gifts: ~ $25 to $49-The
100% Participation Campaign Pin ~ $50 to $149-The pin and a
Thunderbird business card holder ~ $150 or more-The pin and a Parker
Pen imprinted with flags of the world. Thank you for your generosity.
FAX to (602) 978-6814
Or mail to Alumni Relations Office, Thunderbird,
15249 N. 59th Avenue, Glendale, AZ 85306-6006
I would like to pledge my
support for Thunderbird's
mission with a gift of:
o S500
o SlOO
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My gift will be matched
by: ____ _
Method of Payment:
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prup~#_-------------
* Please use my gift for:
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I have also enclosed:
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101 _______ _
SPECIAL REPORT:
EXECUTIVE EDUCATION
Hungry For Success
Thunderbird executive
education is experiencing
explosive growth. Why so
much success in an indus­try
that is shaking down?
/i..few years ago Fortune magazine
managed to ruffle the feathers
on business schools by making
some not-so-kind remarks about execu­tive
education: "Plenty [schools] are
greedy, lazy, and incompetent," it
lamented. "Because executive educa­tion
is so profitable, many have rushed
into the business. The teachers they
provide may be academic drones with­out
the temperament or solid consulting
experience to satisfy veteran execu­tives.
You should require even accom­plished
professors to familiarize
themselves with your company's busi­ness
issues and coordinate their presen­tations
with other teachers.'"
Funny how the truth smarts. Today a
revolution is underway in executive
In particular, growth in the "consor­tium"
and "custom" or in-house pro­gram
areas has been phenomenal,
exceeding 100 percent a year. Consor­tium
programs involve a group of five to
ten non-competing companies who
work collectively with the school to
design and run a targeted program.
Companies don't have to pull a large
group of people off the job at once­and
they can learn from each other.
"We set up our original consortium so
each company sent a specified number
of participants for four versions of the
same program. Mer that, obligations
ceased," says Barrett of the Thunder­bird
International Consortia. "The pro­gram
has been so successful that we're
now running number six or seven and
have two or three more already sched­uled.
We've even started a second con­sortium."
Thunderbird consortium members
are no small players either: Vitro S.A.
(Mexico), Amoco, GM, Fluor Daniel,
Honeywell, IBM, Kellogg Company,
Scott Paper, Warner-Lambert, Allied­Signal,
Goldman Sachs & Company,
education. Companies want
programs that help meet
specific business objectives
and gain immediate results.
They want professors with
experience in the business
world, not academia And in
increasing numbers, they
want programs that are not
simply cross-functional, but
cross-cultural and global.
"In 1989 yearly
revenues were
around
$600,000; 1995
AT&T, Black & Decker,
Dow Chemical, EDS,
Sunkyong. "These are
impressive companies,"
notes Barrett, "They have
given thought to where
they put their money."
Not surprisingly, Thunder­bird's
executive education
programs are experiencing
explosive growth. In 1989
revenues are
expected to
top $5 million.
Why so much
success?"
Thunderbird is also pro­ducing
a number of cus­tomized
single-company
programs, including ones
for Brunswick Corpora­tion,
Singapore Airlines,
and IBM. "To my knowl-yearly
revenues were around $600,000;
1995 revenues are expected to top $5
million. Why so much success in an
industry that is, like its customers,
downsizing dramatically?
"We have grown rapidly at a time
when executive education as a whole is
flat," says Ed Barrett, vice president for
executive education, who came to
Thunderbird in 1990. "Some schools are
growing, some shrinking. But no one is
growing at our rate or anything even
approaching our rate."
12 THUNDERBIRD XLIX 12 / 1995
edge, we are the only
graduate school provider of executive
education for IBM," says Barrett. "When
Gerstner came in as CEO at IBM, he
shut down executive education, started
with a clean sheet. We were first
through the door-and last."
Why the success? What is driving
companies to Thunderbird, and
making them stay?
In large part Thunderbird has a
unique franchise, in the sense of who it
is and what it is trying to achieve. After
all, the School has been internationally
(top) Vice President Ed Barrett's and former
Secretary General of OPEC Dr. Subroto's
powerful understanding of the world oil
and gas industry gives Thunderbird an
advantage in attracting companies to
executive programs.
(bottom) Associate Professor John M.
Zerio plays a key role in Thunderbird's
corporate consulting program, working with
domestic and foreign companies to solve
marketing problems.
oriented for approaching 50 years. What
that means is that there is a collective
mind set at Thunderbird to think inter­nationally,
to think cross-border, and to
think cross-culturally.
Says Barrett: "If we are trying to work
with understanding a particular region
of the world, we have people here who
know Japan. They know business prac­tices
in Japan, many have perhaps run a
business in Japan. We have people who
know mainland China, people who
know Indonesia We have business fac­ulty
who know the problems of doing
business in a particular part of the
world, and IS faculty who understand
what the culture and politics are like."
In short, Thunderbird is beating out
older and more established schools
because it can put together a tailored
program that has elements of business,
culture, and politics fused together. For
most schools crossing functional areas is
More interna­tional:
Thunder-bird's
executive
education is
beating out
older and more
established
schools because
it fuses business,
culture, and
politics together.
not too difficult; but
crossing borders into
international political,
economic, or cultural
issues is a different ball
game, one Thunderbird
probably does better
than anyone. Com­ments
Donna Banks,
vice president for
research at the Kellogg
Company, of her expe­rience
with Thunderbird's International
Consortia program: "The course is the
best one I've ever attended as an execu­tive.
It is extremely realistic."
Perhaps even more important than
where Thunderbird faculty can take a
company is how they take them. "There
are very few schools where you can get
language, international studies, and
management faculty to work so in sync
with each other," says Barrett. "Our fac­ulty
work together as a team, and can
deliver programs that in their totality
New Leadership Program
A new Leadership Certificate Program will
be offered by Executive Education in fall
1995, covering global management issues in
14 three-hour sessions (12 evenings and 2
Saturdays). For information, contact Ann
Wohl, Director EMIM, at 602-978-7920.
are much more sharply focused for
what a company or group of companies
needs."
Faculty at Thunderbird are no "acad­emic
drones" either. They have either
worked extensively in industry or done
comprehensive consulting, case writing
and field research. What does that bring
to the negotiating table when compet­ing
with other institutions? It brings fac­ulty
who have one foot firmly planted in
academia, and the other firmly planted
in the business world.
"Take Brunswick for example," says
Barrett. "One of the reasons they looked
at us is because they were looking for a
global program. Another reason they
chose us is the faculty they talked to are
people who have a good grasp of what
goes on inside a living global organiza­tion.
It is not a group of faculty who say
'in theory this is what you should find,'
but are not sure if that is reality."
Perhaps more so than other institutions,
Thunderbird faculty are inclined to be
in the trenches, and to understand what
is going on within the organization.
"Remember," Barrett points out, "this
school grew out of the business com­munity,
not the academic community.
While it is very much an academic insti­tution,
the roots of this institution are
every bit as much in the business com­munity.
I think that makes a difference,
and not just philosophically. "
Still, the competition for
executive education re­mains
fierce. And industry pat­terns
suggest the shake out will
only continue, maybe even
increase.
So why will companies con­tinue
to choose Thunderbird
for executive education?
Probably for three reasons,
says Barrett. The first has to do
with Thunderbird's core iden­tity:
"This school truly under­stands
the global arena. Of
course, no school can claim a
monopoly on that. But because
of who and what Thunderbird
is, we have a range of faculty
and a depth of knowledge and
experience in the global arena
that most other schools don't
have, and perhaps may never
have."
The second reason involves
Thunderbird's ability to put its
money where its mouth is: "We
have a solid track record of successfully
working with an impressive stable of
global companies from the last few
years," says Barrett. "What is important
about saying 'from the last few years' is
the world has changed so dramatically
in the last decade that if you had satis­fied
clients 10 years ago, that doesn't
necessarily mean that what you are
doing today is relevant. We can provide
a list of clients that have worked with
us in the last 24 months on contempo­rary
problems who are extremely satis­fied
with the results and the way we
worked with them. That says a lot about
our ability to stay ahead of the change
curve."
And the third reason? That one's
more indefinable, says Barrett, having
to do with the way Thunderbird cares
about the impact that its programs has
on people. "We are a customer oriented
organization. Of course, that's easy to
say. But the firms we work with will
back up that statement 100 percent."
Beyond the faculty, beyond the exper­tise,
at heart Thunderbird is an execu­tive
program that first listens and tries
to understand a company's problems
and needs-and then matches the edu­cational
program to those needs.
"In truth, part of it may be that we are
simply more hungry," muses Barrett.
"Not all schools are hungry like we are."
-By TIwmas McMillan
THUNDERBIRD XLIX 121 1995 13
Surfing the Thllllderbird Forum
1,300 alumni in 39 countries are networking on
CompuServe's Thunderbird Forum • By Mary MitcheU
Let's say you haven't yet joined the
Thunderbird Forum on Compu­Serve.
Worried you may have
missed the boat on an exciting new way
to network with other T'birds world­wide?
Good news: now's the best time to
join more than 1,300 alumni already
surfing this private, online meeting place
designed exclusively for Thunderbird.
Members are talking online about
subjects ranging from job openings to
alumni activities, exporting to entrepre­neurship.
They're accessing an online
library of files, participating in real-time
conferencing, looking up other
T'birds-even chatting in an "Online
Pub." Members are also accessing more
than 900 other CompuServe forums,
hundreds of databases, international
news services, electronic mail, and con­nection
to the Internet.
Here are four stories about T'birds
using the forum to make business con­tacts,
find jobs, promote alumni activi­ties-
or simply talk with faraway
classmates.
-- - -- ' •.. i."'.'!,
_'1' : Carol (Delperdang) Vincent '89
and Glen A. Michel '92
Lobsters and Women's Sportswear
What do Maine lobsters, Japan, and
women's sportswear have in common? A
message titled "Maine lobsters to Japan,"
from Carol (Delperdang) Vincent '89 in
Los Angeles started this tale.
Vincent was seeking more informa­tion
about the Japanese seafood market
for her part-time exportJimport busi­ness,
Global Trade Consultants. Her
message caught the attention of Glen A
Michel '92 in the Customs and Inter­national
Trade Practice of Deloitte &
14 THUNDERBIRD XLIX 12 I 1995
Touche LLP in Los Angeles. Since
Michel had spent many years in Japan
and was familiar with U.S. restaurant
chains there, he had suggestions for
Vincent. About to post his response, he
noticed Vincent had entered the forum,
so he invited her to chat online about
lobster exporting. Vmcent soon realized
that Michel's expertise could assist her
in a different way, related to her posi­tion
in importiexport at Gilda Marx Inc.,
one of the world's top women's sports­wear
companies. Before long, Vincent
had become Michel's client.
Favorite Files
Here are five favorite files and their
locations in the Thunderbird Forum:
• American Business Centers in Russia
(ABc.TXT) in Export/Import
• Alumni Opportunities bulletin (listed
by date) in Jobs-Pre '93 Alums
• Humorous Rejection letter
(REJECT.TXn in Jobs-New Grads
• First Tuesday contact list (FIR STU) in
Alumni Activities
• Job searching and the Thunderbird
Forum (FORJOB.Txn in Career Tips
Zulfiqar Khan '90 used the forum to
query other T'birds about how to mini­mize
inland shipping and warehousing
costs for his startup import company.
Michel subsequently obtained for
Vincent a 99 percent refund of duties
and taxes on certain goods, part of a
"duty drawback." "Drawback has been
around for a long time," says Michel,
"but it's little used because people don't
know to ask about it." Vincent also
relied on the forum in planning her first
business trip to Hong Kong, eliciting
information about local customs and
contacts for the First Tuesday gathering
(she subsequently met 30 Hong Kong
T'birds). "People talk about the Thun­derbird
network as a concept," says
Vincent. "Through the forum, you can
see it working." (For information about
duty drawback, see DRAWBK.TXT in the
ExportJImport library).
Online Job Search Works
G. Macy Merriman's story began
about a year ago, when a friend con­tacted
him with an opportunity to work
in Paris. Merriman '90 reasoned that if
he were to consider switching jobs, he
should investigate other possibilities.
He began responding to offers listed in
the online "Alumni Opportunities" bul­letin
in the Thunderbird Forum's
"Jobs-Pre '93 Alums" library (an
online newsletter provided bi­weekly
by Career Services).
After some months, he
noticed an opening with
Pioneer Hybrid, the world's
largest breeder of hybrid
seeds for arable crops. "I also
saw this ad in the Financial
Times," says Merriman, "but
only after I had seen it in the
Thunderbird Forum." Merri­man
sent his resume and
cover letter immediately:
"When I began communicating
with my future boss, who is in
Iowa, we used CompuServe
Mail-no missed calls and no interna­tional
phone bills. "
Merriman is now marketing manager
for Pioneer's hybrid seed corn for the
dairy and beef industries. "The hybrid
----.--- a - c
~".~
~~~
~
Thunderbird Forum
What's Special about the
Thunderbird Forum?
• Thunderbird was the first university
to provide an online alumni network
through CompuServe.
• You can send and receive e-mail
worldwide from CompuServe.
• No matter where you move in the
world, you keep the same User 10.
• Thunderbird's special $12.95 monthly
fee includes unlimited access to the
Forum and 120 other CompuServe
basic services, plus three free hours
of access to the Internet each month.
seed business is very satisfying," he
says. "It seeks to fulfill mankind's age­old
need to feed itself while striving to
remain on the leading edge of advances
in genetic research and development."
From his base in Brussels, Merriman
now has the world as his territory-and
the Thunderbird Forum to thank in part.
Marketing Alumni Events
As the president of the New York
T'bird Alumni Association chapter,
Stephen J . Doyle '82 has found the
Thunderbird Forum valuable for mar­keting
local alumni events.
"Our chapter uses the forum fre­quently
to market New
York alumni events, such
as the annual Boat Party,
T'bird Tuesdays, dinners,
speakers and other
events," says Doyle, who
has worked in interna­tional
trade for 12 years
and is president of
Integrity International Stephen Doyle '82
Corp.
Doyle also has used the forum to help
fellow alums traveling to the Big Apple.
"I have been able to reciprocate on sev­eral
occasions by answering questions
other T'birds have regarding visits to
New York, or contact names of T'birds
in various locations," says Doyle. Note:
The New York chapter has contributed
a file of job-search tips, specific to net­working
in the Big Apple (see file DEC2
in the "Career Tips" library of the Thun­derbird
Forum).
Making a Cultural Connection
If not for the Thunderbird Forum,
Marcella Simon Peralta '84 of Silver
Spring, Md. , and Amy Kahn '92 of
Phoenix might not have met. But
because they connected through the
forum, they are now collaborating on a
book.
A foreign service
officer in Central
America until the late
1980s, Peralta started
her own intercultural
training firm, Peralta
Associates, in 1990.
She has trained Japan­ese
businessmen in
American culture, con­tributed
to a World
Bank report on Mauri­tius,
and served as a
cultural specialist for a
Latino Head Start pro­ject.
"My field is cul-ture,"
says Peralta, Marcella Simon
who uses Compu-
Serve's forums as a Peralta '84, (top)
means of "seeing what and
people from other cul- Amy Kahn '92
tures are thinking." She frequents the
African-American Forum for its diver­sity
of opinions and also the Inter­national
Trade Forum.
A few months ago, Peralta placed an
inquiry in the Thunderbird Forum. "I
was writing a book about diversity train­ing
and wanted input on programs from
other companies." Another forum
member put her in contact with
Amy Kahn, also working in that
field. "Marcella and I have a lot of
the same interests and were doing
many of the same things without
knowing it," says Kahn, who since
graduation has operated Culture­link,
a Phoenix-based business that
helps corporations identify and
resolve cross-cultural training needs.
Peralta and Kahn are still looking for
a publisher for their diversity training
book, and are interested in
hearing from T'birds in-you
guessed it, the publishing
business. •
Alt, Who Goes There?
"I have enjoyed making new friends and
also have obtained contacts for business in
Hong Kong and Germany. T'birds have been
most helpful in providing everything from
suggestions of places to stay and eat, to rec­ommendations
of individuals and companies
that could assist in business."
-Craig Heinze '81
The Hague, The Netherlands
"Using the Thunderbird Forum, I have been
able to track down and establish contact
with five long-lost friends and classmates.
Tw have already visited me in Bangkok.
It's great to be in touch again."
- James Reinnoldt '81
Bangkok, Thailand
"CompuServe and the Thunderbird Forum
are a regular part of my business day. I find
out locations and alumni contacts for First
Tuesdays in cities where I'm traveling, and
obtain country information. I look up friends
in the directory and talk online and via e­mail
to the administration, the board of
trustees, students and alumni worldwide."
-Joe O'Neill '80
Board Member, T'bird Alumni Association
Cincinnati, Ohio
"It's also fun to chat with random T'birds all
over the world. Since I'm logged on at
bizarre hours, I usually get to talk to T'birds
in Europe and the Americas at the same
time.
-Jennifer Warner '95
Barcelona, Spain (ESADE)
"It is really beneficial to know I can log onto
the forum and, in a matter of hours, learn
the name of a friendly contact in practically
any country around the globe, find out
which part of an unfamiliar city is the best
to find a good hotel, or simply locate a miss­ing
friend."
-Stephen J. Doyle '82
New York Chapter President
"A person from my graduating class was
pleasantly surprised to see my messages, as
it had been a number of years since we had
been in touch. An advantage of the
Thunderbird Forum is that no matter where
in the world you are, you can be found."
-Bruce Crumley '76
Danbury, Conn.
THUNDERBIRD XUX 121 1995 15
Creative Ways to Give
There are many creative ways to
assist the School in its educational
mission. Naming Thunderbird as a
beneficiary in your will is one way.
Berger Erickson, one of Thunder­bird's
most beloved administrators,
bequested a major portion of his
estate to the School when he died two
years ago. Bequests to Thunderbird
may be designated as unrestricted, in
which case they are added to the gen­eral
endowment or operating fund, or
restricted for a specific use, such as
student scholarships.
The donation of property is another
tax-smart way to show support for
Thunderbird. John G. Cullen '68,
executive vice president of NCR
Corporation in Madrid, Spain, recently
donated two houses he had purchased
for his two sons, John J. Cullen '92
and Michael W. Cullen '94, to live in
while they attended Thunderbird.
Proceeds from the sale of the proper­ties
went towards a scholarship fund
that John '68 had previously estab-
16 THUNDERBIRD XLIX 12 1 1995
Berger Erickson
lished in his father's name (his father,
Arthur Cullen, was one of Thunder­bird's
first professors). John is also on
the Board of Directors of Thunder­bird's
French Geneva Campus in
Archamps. John's brother, Michael
C. Cullen '72, is also a T'bird.
Fred Koppl '52 of Munich,
Germany has provided a $19,500 lead
gift for a scholarship in the name of
former Thunderbird President
William L. Schurz. Schurz, who
served as president from 1949 to 1951
after General Yount's death, was
an affable, caring man held in
high regard by the students. In
fact, Schurz resigned from the
presidency after only two years
so he could return to the class­room
and his students. Koppl is
currently raising additional fund­ing
for the Schurz scholarship
from alumni who graduated
between 1946 and 1963.
Benefits of
Charitable
Remainder
Trusts
A charitable trust can
provide financial
returns for you­and
Thunderbird
• By Kristi HoweU
The fear of capital gains taxes eat­ing
up profits often keeps
investors from selling highly
appreciated assets-even though port­folio
diversification and increased
income are investment priorities.
One attractive solution to that prob­lem
is a charitable remainder trust. By
setting up a charitable trust, an investor
can eliminate the capital gains tax, take
immediate advantage of a charitable
income tax deduction, profit from a
higher income stream, and possibly
reduce future estate tax liability.
How so? A charitable remainder trust
is a tax exempt entity. Accordingly, a
person who makes a gift to such a trust
becomes entitled to a charitable income
tax deduction. Further, the trustee of
such a trust can sell appreciated assets
without incurring a capital gains tax.
And there is more. A person who cre­ates
and funds such a trust can retain
the right to receive the income on the
gifted property for himself and his
spouse for their lives or for a fixed term
of years.
Fred Koppl '52
Income for life
There are two types of charitable
remainder trusts. The first type, called a
"variable trust" or "uni-trust," pays a
fixed percentage of the variable fair
market value of the trust's assets, val­ued
annually. The second type, called
an "annuity trust," provides a fixed
annual payment based on the fair mar­ket
value of the original assets.
Here's how it works. Suppose you
establish a trust into which you donate
appreciated assets. Since the trust is
exempt from tax, it can then sell those
assets without paying any capital gains
tax (effectively increasing the after-tax
value of the assets by 28 percent, com­pared
to selling them yourself) .
Proceeds from the sale are then avail­able
to be invested in vehicles offering
higher returns than your original assets.
An Example
Here is an example:*
Say you bought stock several years
ago for $6,000, and today it is worth
$30,000 with a dividend return of 3 per­cent.
Let's assume you are in the 31 per­cent
federal tax bracket. If you sold that
stock, you would have to pay capital
gains tax of approximately $6,720, leav­ing
you with $23,280. Assuming you
invest that at 6 percent, you would gen­erate
$1,396 annually for the rest of
your life.
Now, consider the same scenario if
you set up a charitable remainder trust.
Since the stock is being sold by the trust
with no capital gains tax, the entire
$30,000 would be available for reinvest­ment.
Assuming the same 6 percent
reinvestment, you would now generate
$1,800 in annual income. More inipor­The
trust then provides an
income payment to you (or
someone else you choose) for
life or for a fixed term of
years.
A Tax Deduction
In addition to avoiding cap­ital
gains tax and increasing
your income stream, a trust
entitles you to a current char­itable
income tax deduction.
As you might guess, however,
that deduction is less than the
"Eliminate the
capital gains
tax, and take
immediate
advantage
tantly, the contribution
deduction would reduce
your immediate taxes by
$9,300.
Last but not least, even
though the donor has
enjoyed the fruits of the
gifted property for life, an
estate tax deduction for the
assets passing to charity
wipes out some of all of the
tax that would otherwise
be payable.
of a
charitable tax
deduction."
present market value of the assets
donated. That is because you have not
completely relinquished your stake in
the assets.
Just how much is your deduction
worth? That is primarily a function of
your age. In general, the older the
income beneficiary, the higher the
deduction, since the IRS figures the
charity will get its share sooner with an
older beneficiary.
Two other rules that apply to the
deduction are worth noting. For contri­butions
of cash, your actual deduction
is restricted to 50 percent of your
adjusted gross income. For contribu­tions
of appreciated assets, the amount
of your deduction is restricted to 30 per­cent
of your AGI. However, in both
cases a five-year "carryover" rule
applies, whereby any unused deduction
can be carried forward for up to five
years.
Charitable remainder
trusts offer many substantial benefits
for both the donor and Thunderbird.
These and other creative investment
options, such as pooled-income funds
(see accompanying box), can allow you
to enjoy the financial and altruistic
rewards of charitable giving, while at
the same time retaining an interest in
the assets donated. •
Professional legal, tax, andfinancial
planning advisors can lead you
through the issues and assist infind­ing
the option which bestfits your
financial si tuation and needs.
Thunderbird can provide addi tional
assistance. For more information,
contact the Development Office at
(602) 978-7137.
* (for comparative purposes only;
actual returns may differ)
-
Virtues of Pooled Income Funds
Another attractive charitable invest­ment
to consider is the pooled
income fund A pooled income fund is a
large trust (assets are pooled with those
of other donors) maintained by a charity
to which you may donate the remainder
interest in property while maintaining a
life income. The result is a more lever­aged
return for both the donor and
Thunderbird. Consider this example:
A 67-year old donor wishes to contributel
invest $25.000 in Thunderbird's pooled income
fund. The donor transfers common stocks
valued at $25.000 into the fund. These stocks
were valued at $10.000 when purchased many
years ago. Assume the fund pays 8% and
the donor's top marginal tax bracket is
28%. Here's what happens:
The donor transfers appreciated
stocks to the plan: ................................. $25.000
The donor receives a federal
tax deduction (based on IRS
actuarial table) of $9.460. Which.
in the 28% tax bracket, results
in federal tax savings of: ......... $2.649
Plus an Arizona
state tax deduction of: ................ $757
Plus federal and state
capital gains tax savings of: .... $5.400
For total tax savings of: ......................... $8.806
Which reduces the net cost
of the gift/investment to: .................... $16.194
Assuming return on the
$25.000 at 8%. the donor
receives lifetime annual
payments of: ............................. $2.000
(Compare to the stock's
original 3% annual dividend): .... $750
Resulting in an increase in
annual income of: ...................... $1.250
Yield on Net Investment
The donor contributed $25,000, real­ized
tax savings of $8,806 (meaning a net
investment of only $16,194), increased
annual income by $1,250, and earned a
12.3% effective rate of return ($2,000
divided by $16,194). (This information is
based on IRS actuarial tables and is gen­eral
in nature.)
Thunderbird offers a pooled income
fund currenUy invested in a U.S.
Money Market Fund and an Intermedi­ate
Bond Fund. The principle donation
is eventually passed on to Thunder­bird.
Any proceeds earned are used to
increase Thunderbird's endowment
unless otherwise specified by the donor.
For more information, contact the
Development Office at (602) 978-7137.
THUNDERBIRD XUX 12 I 1995 17
INTERNATIONAL
Canada
Second Tuesdays are held at
the Movenpick at 165 York
Street near the Sheraton in
downtown Toronto. Second
Tuesdays start at 6:30 p.m.,
offering drinks and free food.
For more information, call
Susan MacGregor at
(416) 656-6261 or Barbara
Tsai at (416) 595-5413.
Hong Kong
The dazzling city of Hong
Kong played host to the
Thunderbird Asian Reunion,
April 28-30.
See the next issue of
Thunderbird magazine for
complete coverage.
India
(See photo next page.)
The Netherlands
A new committee for the
Dutch chapter of the alumni
association has been formed
with Rene van Baardewijk '91 as
chapter leader. Other committee
members are Wilbur Bakker
Schut '86, Bertil Duinhouwer
'91, Ben Kroon '87, and
Rombout and Canan Peer '91.
The new committee is looking
to reactivate T'bird alumni
participation and activities in
The Netherlands.
In January 75 members
kicked off the year with a get­together
and buffet dinner at
Cafe Gallery Dante in
Amsterdam. T'birds came from
Germany and Belgium to attend
the event, in addition to a
delegation from the Archamps
campus.
All future First Tuesday meet­ings
will be held at the Cafe
Gallery Dante. Mark your calen­dars
for the First Tuesdays of
each month starting at 19:00
hours. For more information,
call Rene van Baardewijk at
(31) 020-6464732.
Russia
The Winterim in Russia class
was the special guest at the
Second Tuesday in Moscow at
the Sante Fe Bar and Grill. Also
attending were T'bird professors
Drs. Dale Davison and Walter
Tuman. The general topic of the
January meeting was expatriate
marketing in Russia
18 THUNDERBIRD XUX 12 I 1995
NETWORK
TAA Board News
Special Chapter Events for T'bird's 50th
Believe it or not. the 50th anniversary of Thunderbird kicks
off this fall! The Thunderbird Alumni Association Board and
the Office of Alumni Relations are planning a number of
exciting new programs to assist individual chapters in their
own celebration of this special rbird anniversary:
* New events and programs are being created for this year's
homecoming celebration in November, including gala indi­vidual
class events and a mini business conference.
* A "traveling journal" will move from chapter to chapter
throughout the world, starting at the 1995 homecoming
and ending at the 1996 homecoming. It will serve as a first­hand
account of the 50th anniversary year as experienced
by alumni groups around the world.
* Individual chapters will be assisted in creating their own
anniversary celebrations all over the globe.
* A new awards program is being developed to honor indi­vidual
members of each chapter throughout the
Thunderbird network. These awards will recognize service
and dedication to the alumni program, and recipients will
be selected by their local chapter.
Keep your eyes and ears open for these and other
special 50th anniversary homecoming plans through mailings,
announcements on the CompuServe Thunderbird Forum, and
upcoming issues of Thunderbird magazine.
... Madrid's Christmas reunion drew 48 alumni.
For chapter information, contact Felix
Guimoye '90 at 34-1-559-1915.
Spain
Barcelona
Tbirds held their March First
Tuesday at the Can Punetas at
Ciutat Balaguer 50. Barcelona
First Tuesdays start at 9:30 p.m.
Madrid
(See photo below.)
Sweden
Stockholm First Tuesdays are
now official! Two get-togethers
have already been held, and in
April the group plans to meet at
Cafe Tivoli, Hornsgatan 31 in
Slussen. If you have questions
or want more information, call
Astrid Boer at 08-7203927, or
Christoph Adams at
CompuServe 74371,204.
UNITED STATES
Arizona
Phoenix
Phoenix T'birds changed the
location of their First Tuesday
meetings to The Plaza Club atop
the Norwest Bank Building at
3300 North Central Avenue. It
offers impeccable service with
spectacular views. First
Tuesdays start at 6:00 p.m.
In November, Phoenix Tbirds
hosted a number of activities
during the annual T'bird home­coming.
After the Balloon Race,
a softball tournament and an
international happy hour, the
Alumni Barbecue blow-out was
held at the Pub on the Thunder­bird
campus. The event featured
catered food, live music and
socializing.
For visiting Tbirds who get
the urge to stop at the old water­ing
hole for some interesting
conversation (in a variety of
languages), the Phoenix chap­ter
holds monthly alumni
BBQ's on the third Friday of
every month at the Pub.
For more information, con­tact
president Karen Culver
'87 at (602) 504-1722 or on
CompuServe at 74371,1020.
Reminiscing in Prague 25 ~
years after graduation are
(I-r) Dittmar von Hanstein
'70 (from Kaliningrad,
Russia), Frederic Erne '70
(from Zurich, Switzer-land),
M. Lo Locher '69
(from Munich Germany),
and Jorgen Lindeskov '70
(from Florence, Italy).
California
Bay Area
Bay Area T'birds held a picnic
at the Mondavi Winery in the
beautiful Napa Valley in Sep­tember.
Lesley Brown '90, who
works for Mondavi, coordinated
a wine tasting for her fellow
T'birds.
The Thunderbird Moonlight
Bay Cruise set sail from Pier 40
in the South Beach Harbor in
San Francisco in October for a
three-hour cruise. Unlike
Gilligan and the Skipper, all
T'birds returned safely to shore.
The annual Christmas party
was held at the San Francisco
Marriott on December 6. For
more information on the Bay
Area Thunderbird Alumni
Association and First Tuesdays,
contact Darlene Drapkin '84 at
(415) 332-6820.
NOTE: The location for Third
Tuesdays has been moved to the
Empire Grill & Tap Room in the
heart of downtown Palo Alto.
The owner, Chip Truett '72, has
graciously offered the use of his
pub which boasts 16 savory
beers on tap. Join other Bay
Area T'birds starting at 6:00 p.m.
NETWORK
Los Angeles
A group of 20 T'birds gath­ered
at Alpine Village on
October 7, and participated in
the Chicken Dance, had German
beer from the micro-brewery,
and met with each other for
several hours of good food and
discussion. Thanks to Mike
Bunichter '87 who coordinated
the T'bird Oktoberfest.
In December, L.A. T'birds
held their annual Christmas
party at Pentola's Taverna.
For First Tuesday information,
contact Mike Bunichter '87 at
(213) 613-3507.
Orange County
Orange County T'birds have
kept a busy schedule of monthly
international dinners during
1994. In addition to their
Chinese, Cuban, Persian,
Egyptian and Korean BBQ din­ners,
their December holiday
dinner rang in the holidays with
a Moroccan flavor. Held at the
Marrakesh Restaurant in
Newport Beach, the feast was
complete with food, beverage
and belly dancing.
Orange County T'birds hold
their monthly First Thursdays
at Maxi's Lounge at the Red
Lion Hotel. Call chapter presi­dent
Matthew Allbee '92 at
(714) 733-3306 for more
information.
Colorado
Colorado T'birds held their
annual holiday party and
December First Tuesday at the
Wynkoop Brewery in Denver,
just a baseball's throwaway
from the new Coors Field.
Colorado now has one of the
fastest growing T'bird alumni
chapters and urges all to partici­pate
in their activities. First
Tuesdays are held at the
Wynkoop Brewing Company, at
the comer of Wynkoop and 18th
Street in Lower Downtown
(LoDo). Call Audrey Penk '91
at (303) 366-3757 for more
information.
This winter, Colorado T'birds
escaped to the High Country
Lodge outside of Breckenridge
for a Thunderbird weekend.
Escapees had their choice of ski­ing
at Breckenridge, Keystone or
the A Basin. Kenny Sununers '70,
owner of the High Country
Lodge, is a fellow T'bird.
District of Columbia
The Washington D.C. TAA has
changed its First Tuesday meet­ing
locations to the Brickskeller
at 1523 22nd Street in Washing­ton,
just one block from the
Dupont Circle metro station.
The selection of global beers in
addition to an exclusive room
with their own bartender made
the Brickskeller a perfect
choice.
D.C. T'birds held their annual
dinner on February 10 at the
Little Cafe in Arlington, Virginia.
Speakers for the evening
included Dr. llewellyn Howell,
chairman of Thunderbird's
International Studies Depart­ment,
and Steve Orr '79, chair­man
of the Thunderbird Alumni
Association. Elections for the
chapter board were also held.
D.C. T'birds who would like
to get on the chapter's e-mail list
can e-mail their Internet address
to Lydia Middleton '91 at mid­dletel@
usa.red-cross.org or call
(202) 639-3118.
....
• First Tuesday in Bombay,
India, organized by Chetan
Shah '87 and his wife,
Vijay Anand (second and
third from the right) .
T'birds from The Nether­lands
converging on the
Cafe Gallery Dante in
Amsterdam included (I-r)
Rene van Baardewijk '91,
Edward T. Pennings '93,
Elpida Frantzeskarou '93,
John D. Stokes '93, and
(seated) Jan P. de Smedt '93.
THUNDERBIRD XLIX 12 / 1995 19
Florida
JacksonviUe I N.E. Florida I
South Georgia
First Tuesday meetings are
now being held at Beau's at the
Marriott at Southpoint on
Salisbury Road, at 1-95 and
Turner Butler in Jacksonville.
Official First Tuesday starting
time is 6:00 p.rn. Call William H.
Hill, Jr. '71 at (904) 285-5576 for
more information.
South Florida
Once again, the Daniels fam­ily
of Coral Gables offered their
home so South Floridian T'birds
could share in the fun, food and
spirits of the season for the
annual Christmas Party. It was
truly an international potluck
with South Floridian T'birds
each bringing an entree or
desert representing different
countries.
Tampa Bay
Tampa's first First Tuesday
was held at the Cactus Club.
(See photo page 22.)
NETWORK
European Reunion
The next Thunderbird European Reunion (June 15-18, 1995) will
be held in the ancient Roman city of Mainz, capital city of the
State of Rheinland-pfalz in Germany. Located near Frankfurt in
the scenic Rhein-Main river valley, Mainz is a treasure of beau­tiful
architecture, outdoor cafes and green parks, and will pro­vide
an ideal setting for T'birds to meet old friends and make
new acquaintances.
The State of Rheinland-pfalz is hosting the 1995 European
Reunion as part of the -Nachbar Amerika, - which celebrates 50
years of peace and prosperity between Germany and the u.S.
Highlights will include a welcome reception with state officials;
visits to 2,000 year-old Kupferberg Sekt Cellars, the Gutenberg
Museum, and the l.000-year-old Romanesque cathedral. A
panel discussion will feature senior officials of the New
European Central Bank as well as a presentation on German
commerce and politics. Tbirds will also have the opportunity to
attend the annual Thunderbird International Business forum
and relax with a wine-tasting party and a scenic Rhein river
boat cruise, complete with dinner and dancing.
Illinois
Chicago
In October, the Chicago
Thunderbird Alumni
Association held a Day at the
Races with the University of
Chicago Alumni Association.
T'birds had their own private
Ascot Suite and all-day buffet at
the Arlington International
Racecourse.
During December, the
Chicago Alumni Association
held elections for officers and
members of the board. Marie
DeLean '93 and Rich Gesteland
'91 were elected as co-presi­dents
with BeI\iamin C. White
'92 as treasurer and Ursula
Rieger '92 as secretaIy. Elected
as Members of the Board were
Kimberley Bishop '92, David
Reed '89, Patrick Shauglmessy
'91, Aleksandra Lubavs '91 and
Ann F. Rosen '82.
Chicago T'birds have also
created a new bi-monthly
newsletter, ThunderWord.
Contact Paul Prengel at +49 (6131)-163225 or at fax 163447, Arrangements are underway
John Cook at +49 (6101)-47618 or at fax 48609, or George for The Great Couch Program,
Georgia Redlbacher at +49 (6196)-641474 or at fax 643208. Sponsorships which will help find accommo-
Atlanta are also being sought to help support the event. so if your dations for students visiting
Camille Pacht '93 has been Chicago from Thunderbird. The
elected president of the Atlanta company can participate, give them a calli St. Germaine Cafe was selected
chapter and is replacing Mark as the site for a Sunday Brunch
Rush '92 who has been assigned held once a month for casual
to a project with AT&T in Saudi get-togethers. Call Kim Bishop
Arabia. Asa Forsgren '92 is vice '92 for more details at
president of Marketing and Katy (312) 935-9236.
dBeoneth omfe Srp '9e3c iiasl tEhvee vnitcse. presi- .---.-!..----------::======::::~~;;;;;;;;;;l taInst iFnegb trouuarry w aa sfr aerer abnegeer d
The Atlanta Chapter is by the Chicago Brewing
helping the Atlanta Company and the Goose
Committee for the Olympic Island Brewery. In
Games (ACOG) to look for March, the chapter
volunteers as envoys during started their own
the 1996 games. Envoys International Film
work directly with the ath- Festival.
letes and officials of the In addition, Chicago
Olympic countries. The T'birds changed the
ACOG requirements fit the location of their First
profile of the average T'bird: Tuesdays to The Red
management and leadership Lion, 2446 N. Lincoln
ability as well as language Ave. in Lincoln Park.
skills. Envoys must be avail- Call Rich Gesteland '91
able for training prior to the at (312) 868-6075 for
games and for six weeks more information on
during the games. For more First Tuesday.
information, contact Leslie
Merrick at ACOG at
(404) 224-1005.
For further information on
and First Tuesdays, call Camille
Pacht '93 at (404) 813-6882 or
(404) 454-9038.
20 THUNDERBIRD XLIX 12 I 1995
....
"Event marketing is a S15 billion business. My job for Knight-Ridder is to get them to
think outside the traditional marketing box," said (I) Willie Cone '79, event mar.keting
director for the Newspaper Division of Knight-Ridder, Inc. in Miami. Cone, Kim Royster
'85, managing director of Pulse Marketing in Los Angeles, and Whit Allen '92, marketing
manager of Caribbean and Latin American Operations for AT&T Energy Systems in Dallas,
conducted an international marketing workshop for students in March.
Maryland
Maryland T'birds went on the
road with a series of First
Tuesday locations alternating in
various state areas. The next is
Griffin's in Annapolis on May 9.
Contact Lisa Garramone Mark
'88 for more information
(410) 333-8180 or Andrea
Deleon '92 at (410) 576-0022.
Michigan
The Michigan T'birds organize
international dinners on a
bi-monthly basis with the first
dinner held in September at a
Japanese restaurant. In
February, the chapter held a
Lebanese International Dinner
at La Shish in Dearborn.
For more information,
call Kurt Nelson '92 at
(313) 240-6409.
Minnesota
Minnesota T'birds braved the
cold in December to go caroling
around town. Also in December
was First Tuesday held at Brits
Pub & Eating Establishment. On
January 28, Minnesota T'birds
celebrated Chinese New Year in
style with a party at the home of
Bill and Malyn Wrobel. Winter
blahs were brightened up by
authentic decorations, tradi­tions,
fireworks, personal
Chinese horoscopes, and great
food and beverages.
First Tuesday in February
was held at Dixie's Bar & Grill
on Grand Avenue. For First
Tuesday information call Muriel
Gustaba '89 at 698-9157.
NETWORK
Missouri
St. Louis
The St. Louis T'bird
alumni chapter held their
March 7 First Tuesday at
the st. Louis Tap Room
at 2100 Locust in St.
Louis, near Union
Station. For more infor­mation,
contact Joyce
Wiegand '92 at (314) 771-
6067 or Internet at
Weigand328@aOLcom.
New England
Mike Yamada '90 of the Detroit
Alumni Chapter was one of
seven transplanted Japanese
recently profiled by Kansai-TV, a nation­al
network based in Osaka. Yamada was
the subject of a Japanese TV documen­tary
and a series of articles on Osaka
natives living overseas. The TV crew fol­lowed
Yamada around
corner will act as an
informal job exchange
with copies of the latest
job postings from the
CompuServe T'bird
Forum. Vince will also
act as a contact point
for those seeking jobs,
and those who have
positions to fill.
Over 80 alumni
attended the annual holi­day
party of the Thun­derbird
Club of New
England (see photo).
Events on tap for the
Detroit to capture a
typical work day and
Almost 250 New York
T'birds and friends gath­ered
for a successful
11th Annual Boat Party.
A surplus from ticket
sales was sufficient to
continue funding the NY
chapter's expenses so
annual dues are not nec­essary.
In addition, a
special $500 scholarship
will go to a worthy stu­spring
include a dent.
Caribbean roving dinner,
a ski trip, and a subur-ban
roving dinner.
New officers for the
the private life of a
Japanese businessman
in the U.S., and from
Detroit until he landed
at Osaka's new inter­national
airport, the
club for 1995 are Nobu
Kondo '83, president;
Greg Grande '91, vice
president and treasurer;
Katherine Brand '92,
vice president; Jeff
first built on the sea rather than land
New York T'birds
held their first 1995
social gathering at one
of the best known
restaurants in China­town,
the Golden
Unicorn Restaurant
on March 9.
(Yamada's plane was the first to land at
the new airport).
North '92, vice president;
Karen SaskY '88, vice
president; and Yvette Morrill '83,
newsletter editor.
First Tuesday meetings begin
at 5:30 p.m. at Union Oyster
House, 41 Union Street in
downtown Boston. For more
information call Nobu Kondo '83
at (508) 668-8776.
New York
The New York chapter has
changed the location of their
First Tuesdays to Brew's at 156
E. 34th Street between 3rd and
Lexington in Manhattan. First
Tuesdays start at 6:00 p.m.
For information on T'bird
activities in New York City and
the surrounding area, call the
New York T'bird Hotline at
(212) 713-5744.
Thanks to board member
Vince Daniels '74, there is now a
career corner that will be at
each T'bird Tuesday. The career
Oregon
Portland
Portland T'birds have been
busy with both a Brazilian and a
Singaporean Food Fest held
during the fall months. First
Tuesdays continue to be held at
the Red Lion, Maxi's Lounge.
Spring plans include a break in
the rain, the second annual beer
and bratwurst party, vineyard
tours and much more. For fur­ther
information on activities
such as language groups, ethnic
restaurant outings and First
Tuesdays, contact newly elected
president Robert Jones '90 at
(503) 624-8036.
The annual holiday party of the New England chapter drew
over 80 alumni. Pictured are (lor) Greg Grande '91, Katherine
Brand '92, Karen Sasky '88, Thunderbird President Roy
Herberger, Peter Moon '89, Thunderbird Vice President of
External Affairs Jenny St. John, and Nobu Kondo '83.
Hong Kong chapter alumni •
gather for First Tuesday at
JJ's in the Grand Hyatt.
THUNDERBIRD XUX 12 I 1995 21
Texas
Austin
The spring calendar of events
for Austin T'birds includes First
Tuesdays at the following estab­lishments:
April, The Cooper
Tank; May, The Armadillo
Brewing Company and June,
The Stone House Brewery.
In July, Austin Tbirds plan to
go tubing at Schlitterbahn in
New Braunfels along with the
Dallas, Houston and San
Antonio T'bird chapters. To
participate in this all-Texas
T'bird event, contact Susan Jons
'91 at (512) 502-4067 or John
Poth Jr. '92 at (512) 327-3868 for
more information.
Dallas/Ft. Worth
On October 25, the DallaslFt.
Worth chapter and the Greater
Dallas Chamber's International
Trade Department sponsored a
timely lecture event entitled
"NAFrA: Impact of NAFrA and
the Impact of the Dallas Labor
Secretariet." Dr. Francisco
Carrada-Bravo (Tbird profes­sor)
and Cathy Golden (Dallas
International Trade Depart­ment)
were the featured speak­ers
for the evening. Tbird
alumni and event organizer
Peggy McNeil '78 reported there
NETWORK
was an excellent turnout with
over 50 people.
The first event of 1995 was
held on January 3 at a local
brew pub. Remaining First
Tuesday locations for the first
half of 1995 include: April, the
ArcodorolPomodoro; May, the
White Swan in Lakewood, and
in June, Weldon's Houseboat at
Pier 121 Marina in Lake
Lewisville. For more informa­tion,
call the DIFW Alumni
Hotline at (214) 913-0515.
Houston
Dan Morris '91 has organized
an International Speaker's
Forum for First Tuesdays,
which will tap into the vast
international experience of the
Houston alumni. Each month
there will be a 30-minute presen­tation
by an alumnus, colleague
or visitor on a topic of their
choice as it relates to interna­tional
business with discussion
following. The goals of the
forum include offering up-to­date
information on the global
marketplace, and learning more
about international activities in
the Houston area.
In February, Carl Caito '71
with the Conlin Financial Group
spoke at First Tuesday. In
March Joseph Ringer' 68 of the
Export-Import Bank spoke.
Houston Tbirds held their
annual holiday party at the
home of Richard and Inga
Koehler '69 in the Galleria area.
The celebration had a global
aspect as all Tbirds were asked
to bring a dish of international
origin. Also of note, the Houston
area T'bird softball team fin­ished
the '94 season with a 5-3
record.
First Tuesdays for the
Houston Chapter are held at the
Black Swan Pub and the Omni
Hotel, located off Woodway just
outside the 610 West Loop.
Contact Dan Morris '91 at (713)
963-7811 for more information.
First Thursdays for Northside
T'birds are held quarterly at
Matthias' Restaurant at 3755 FM
1960 West. Contact Roxanne
Skawin '73 at (713) 376-0643.
San Antonio
The San Antonio Chapter of
the Thunderbird Alumni
Association celebrated the end
of the year with their annual
Christmas Blast held at
Cascabel Bar at the Sheraton
Fiesta in San Antonio. Call Ben
Miedema '77 at (210) 341-5658
for more information on San
Antonio First Tuesdays.
The Detroit chapter's first
"International Dinner Club,"
a bimonthly social gather­ing
at an ethnic restaurant,
attracted a large and
Washington State
Seattle area Tbirds hosted a
congratulation reception in
November for Washington State
spring 1995 T'bird candidates.
T'bird alumni shared their per­spectives
on how Thunderbird
influenced their careers and
lives, then answered questions
from prospective students about
housing, life in Glendale, cam­pus
life, course schedules and
career choices.
In December, the Washington
State Thunderbird alumni held
their Annual Holiday Ball on
December 4 at Chateau St.
Michel, a local winery.
The March First Tuesday was
held at Duke's Yacht Club on
the east side of Lake Union.
Contact Ron Barbera '89 at
(206) 851-3943, x271 for more
information.
Wisconsin
Milwaukee
Milwaukee Tbirds braving
still-cold March weather met at
Conejito's Place for Mexican
cuisine. Future First Tuesdays
dates include May 2, Karl
Ratzsch's. To celebrate warmer
weather, the Milwaukee Chapter
plans to meet during River­Splash
(June 2) and Summer­Fest
(June 30). For more
information on Milwaukee
Tbird events, call Ellen
Dieringer '81 at (414) 351-4035
or (414) 271-3242.
hungry crowd of 26 alumni. T
-By Jeanene Edwa~
... Tampa Bay's inaugural First
Tuesday was held at the Cactus
Club in Tampa. Pictured are (back
row I-r) Duncan Thomas '63,
William Stewart '90, Ben Connelly
'94, Charlie Hounchell '90; (middle
row I-r) Mike Lowrey, Jim Harper
22 THUNDERBIRD XLIX 12 I 1995
'74, Jeff Fowler '90, Joe Sam Shirah
'76, Ira Stevens '91, Warren
Teissier '92; and (front row I-r)
Diane Homa '79, Valeria Moody
(with daughter), Eric Moody '93,
Kimberly O'Shea, and Cecy
DeReuil '90.
1947·59
Nicholas J. D'Anna '47 recently returned
from Vladivostok, Russia where he and his
wife, Joan, served as volunteers for inter·
national Executive Search Corps, by assisting
Furnitura, a Russian mirror manufacturer.
George E. Martin '47 has written two books,
Wild Oakie and Man: Scourge of the Earth. He
lives in Alpine, CA Walter M. Leonard '49
celebrated his 47th wedding anniversary with
his wife, Phyllis, on January 31, 1995. Thomas
B. Birch '51 is senior vice-president
of communica­tions
at intro TechnolOgies
Services, inc. He and his
wife, Sigrid, live in
Newport Beach, CA
Frank R. McCarter '51
REUNION
'50, '55
NOVEMBER
1995
recently retired from his position as personnel
manager of Litton industries. John K.
Pidcock '51 works in import/export and con­sulting
related to Japan at Rocky Mountain
international Co. He and his wife, Motoe, live
in Salt Lake City, lIT. Harry J. Petrequin, Jr.
'54 is an international development consultant
and lives in Black Mountain, NC. W. Doug
Buckmaster '57 is retired and lives in
Cambria, CA Walter A. Kellogg '58 is direc­tor
general at Klemp Corp., a metal fabrication
firm. He and his wife, Beverley, live in San
Diego, CA Donald H. Schmoldt '58 married
Nancy Carlson on January 8, 1993 in Washing­ton,
D.C. He is marketing and publicity direc­tor
with the 4th Wing, Services Squadron of the
Air Force in Goldsboro, NC. Leon W.
Townsend '58 retired from Chase Manhattan
Bank in 1987 and has become senior consul­tant
and advisor to small businesses at Public
AdrrUrUstration Service in the Russian Republic
of Georgia He and his wife, Valerie, live in
Tbilisi. John W. Campbell '59 has retired
from his post as a foreign service officer
at the U.S. Department of State. He and
his wife, Janice, live in Annandale, VA
Harold A. Fanning '59 celebrated his
40th wedding anniversary with his wife,
Florence, on April 16, 1994. He and his
wife are retired and live in Kaneohe, ill.
Robert E. Johnson '59 is an interna-tional
recruiter at Gaffney Management
Consultants, inc. He and his wife, Maria,
live in Rolling Meadows, lL. Gary L.
Sisler '59 is manager of investment
sales at Colliers interamerica, a com-mercial
real estate firm. He and his wife,
Barbara, live in Miami, Florida, and
report it has taken two years to rebuild
after Hurricane Andrew.
1960·64
Bnrtt F. McKee III '60 is P.l. adminis­trator
at Ron Petica, P.C. He and his
wife, Delores, live in Bullhead City, AZ.
Jon E. Tucker '60 has retired from
Monsanto Co. and is living with his wife,
Astrid, in Nathrop, CO. Dan Moriarty
'61 is retiring to his Monona, Wisconsin
home after working for 30-plus years in
overseas development for the World
Council of Credit Unions and Catholic Relief
Services. John Rutten '61 is a Spanish
teacher at Devils Lake Public Schools. He and
his wife, Mary, live in Devils Lake, ND. Gerald
C. van der Klomp '61 is a developer of golf
driving ranges, gaming casinos and theater
entertainment complexes on indian reserva­tions.
He lives in Palm
Desert, CA Lewis R.
Brine '62 is vice-president
and works in international
private banking for Brazil
at Bankers Trust Company.
He and his wife, June, live
REUNION
'60
NOVEMBER
1995
UPDATES
in Coral Gables, Fl.. Richard E. Hayes '62 is
resident advisor of AmTrade international
Bank and international director of Banco
Mercantil de Descontos. He and his wife, Jane,
started instituto Souza Novaes, a program that
uses culturally adapted AA principles to treat
chemically dependent men and women. He is
also partner in an Atlantic Rain Forest presen­tation
project. He and his wife live in Sao
Paolo, Brazil. John W. Ziebarth '62 is manag­ing
director of Lexington Assoc. in New York
City. He is currently assisting Arthur D. Little
to develop and expand their Latin American
management consulting practice. George
Fugelsang '63 is North America chief execu­tive
of Dresdner Bank, AG. in New York City.
John R. Huminski '63 is international sales
manager at Atlanta Attachment international.
He and his wife, Nancy, live in Dacula, GA
Richardson B. Smith '63 is self-employed as
a commodity futures trader and lives with his
wife, Laura, in Kiawah lsland, SC. J ohn Votta
'63 has recently retired from the U.S. Depart­ment
of Commerce. He lives in Richmond, VA
David B. Goldman '64 has retired as presi­dent
of his real estate development firm and is
full time travel and restaurant columnist with
the Los Angeles Times and South Coast
Community Newspapers in Santa Barbara,
CA TIlOmas E. Jones '64 is general director
at Gerber Products Co. in Mexico. He and his
wife, Maria, live in Mexico City. Luis C. Pi­Sunyer
'64 works as credit administration
vice-president for First Mechanics Finance in
Bogota, NJ. Ronald O. Stearns '64 directs
marketing and sales at Remote Switch
Systems, inc. He and his wife, Phyllis, live in
Fort Collins, CO. John T. Tung '64 is senior
consultant at ABB Combustion Engineering,
inc., a finn specializing in power plants. He
and his wife, Joan, live in Oriental, NC.
Second careers just taste sweeter
for some T'birds. David B. Gold­man
'64 is now a fUll-time travel
and restaurant writer. He also serves as
director of the International Food Wine
and Travel Writers Association. The for­mer
president of David B. Goldman
Associates, Commercial Real Estate
Developers, has regular columns in the
Los Angeles Times and South Coast
Community Newspapers in Santa
Barbara, CA.
1965·69
Eva T. George '65 has relocated to Salem,
Oregon to serve as benefits coordinator for
Salem School District. Myron S. Kavalgian
'65 recently started Mill River Media, an inde­pendent
media representatives company, in
Fairfield, CT. Bailey Nichols '65 is senior
vice-president of operations at S.L. Waber, inc.
He and his wife, Elisabeth, live in Green Valley,
AZ. Jon C. Dyer '66 works as commercial
director of Quaker Oats Co. in Guaynabo,
Puerto Rico. Michael M. Feeney '66, staff
procurement analyst at the Department of the
Anny, wrote in with the news that his wife,
Carolyn, died on June 10, 1994. He lives in
Sierra Vista, AZ. Oliver Ford '66 has recently
become executive director of Minnesota State
University-Akita (Japan). He lives in St. Paul,
MN. Bruce L. Wilson '66 is owner and direc­tor
of Protei Communications, inc., a firrn spe­cializing
in telecommunications. He lives in
Bend, OR. Ralph Bailey '67 is owner of
Ridgefield Search international, a recruitment
firm focusing on multinational manufacturing
firms in Latin America, Asia, and the Middle
East. He lives in Ridgefield, CT. J ohn H.
Dunmar '67 consults for the Dunmar
Organization, a marketing and advertising con­sulting
firm in Stamford, CT. Jose Polis '67
works as managing director for Deckers
CD.P.C.), a medical equipment company. He
lives with his wife, Claudine, in Liege, Belgium.
Dean M. Ross '67 is a self-employed real
estate development and hospitality consultant.
He lives in Puerto Vallarta,
Mexico. Richard "Dick"
A. Schiendler '67 is an
associate at Tax &
Financial Group. He and
his wife, Mary Cutl'e '68,
live in lrvine, CA Eugene
REUNION
'65
NOVEMBER
1995
C. Sullivan '67 and his wife are retiring after
spending 25 years in Asia They live in New
Smyrna Beach, FL. Ronald T. Alonzo '68 is
marketing vice-president at Somat Corp., a
waste reduction and water treatment equip­ment
firm in Coatesville, PA Ken Banks '68 is
vice-president of marketing at Circuit City
Stores, inc. He and his wife, Sandi, live in Glen
Allen, VA David R. Mcintyre '68 is self­employed
as a commercial real estate broker
and lives in Miami, FL. Finley Middleton '68
is an elected vice-preSident of Chubb-Europe
and legal representative and manager for
Chubb-Italy. He and his wife, Carole, live in
Milan, Italy. Robert W. Repsher '68
has retired and is now living on Kiawah
lsland, SC. H.J. Santo-Coloma '68 is
CEO of Santco Holdings, Ltd. a holding
company in Coral Gables, FL. Dale
Stephens '68 is systems manager­logistics
at American Stores Co., a gro­cery
and drug store holding company.
He lives in Salt Lake City, lIT. Brian
Gauler '69 serves as director at the
University of Missouri in Columbia,
MO. Thomas A. Hoover '69 is self­employed
and living in Tempe, AZ.
Manfred Lo Locher '69 is working
with European and American partners
on business ventures. He travels with
his wife, Angelika, throughout Europe
and lives in Munich, Gennany. John W.
Stanger '69 serves as group vice-presi­dent
at ABN Amro Bank, N.V. He and
his wife, Kerry, live in Chicago. J ames
A. Wood '69 is vice-president at
Huber, Hunt & Nichols, inc., a firm spe­cia1izing
in professional sports stadium
and arena design and construction. He
and his wife, Deborah, live in Paradise
Valley, AZ.
1970·72
Guido F. Antezana '70 is an international
banking consultant and lives in La Paz, Bolivia
Edward George Borgens, Jr. '70 is presi­dent
of Automated Snacks
Corp./Solar Gourmet Corp.
He and his wife, Helen, live
in Phoenix, AZ. A. Douglas
Gilmore '70 is director of
international operations at
Eddie Bauer, inc. He and
REUNION
'70
NOVEMBER
1995
his wife, Joy, live in Bellevue, WA. J ohn A.
Moore '70 is president ofWorldlink, Ltd., a
firm specializing in market research. He and
Richard Hayes '62
John W. Stanger '69
Austin M. Seay '70
John E. Hamilton '71
THUNDERBIRD XLIX 121 1995 23
UPDATES
Committed to Building an International Presence
When George Fugelsang first gradu­ated
from Thunderbird in 1963, he was
recruited by Citibank to help build a local
banking presence in Latin America.
"In those days, cross-border lending was
almost non-existent and only done on a sea­sonal
basis, very short-term in nature," says
Fugelsang, who is now chief executive,
North America for Dresdner Bank AG.
"But because of this early commitment in
South America, Citibank managed to accom­plish
a task 30 years ago that is still difficult
even today."
That doctrine of commitment to the inter­national
arena must have been absorbed by
Fugelsang, however. By the time he left
South America in 1979, he had become
senior vice president and area corporate
officer for Peru, Bolivia, Chile, Paraguay,
Uruguay, and Argentina.
Anned with the success of his experience
in South America, Fugelsang was sent to
Germany to take over the central, southern,
and eastern European region for Citibank.
"I think my experience in Latin America was
helpful in understanding the pitfalls and dif­ficulties
in trying to establish a competitive
presence in someone else's market," says
Fugeisang.
In Germany, the philosophy behind the
T'bird experience-that of fostering busi­ness
relations through greater understand­ing-
eontinued to play an important role.
Fugeisang started a program in which young
Germans working for mid-sized companies
could come to the U.S., visit American com­panies,
and learn more about how they con­duct
business.
24 THUNDERBIRD XLIX 12 1 1995
"The program improved cultural under­standing
at a critical period in history," says
Fugeisang, "and also provided valuable
experience for the young people involved. "
After 23 years with Citibank, Fugeisang
moved to Morgan Stanley in London as man­aging
director for the Financial Institutions
Group for Europe. Eight years and many
successes later, he and his experience were
lured away by Dresdner Bank Group.
Today Fugelsang is based in New York City
as part of one of the world's largest banking
operations. He is responsible for all Dresdner
Bank Group's activities in North America,
including Canada,
Mexico, and the U.S.
"My experience at
Thunderbird still
serves me today," says
Fugelsang. "Major cor­porations
appreciate
qualities such as mobil­ity,
flexibility and being
interested in the world.
Everyone likes stabil­ity,
but it is also impor­tant
for global
"In those days,
cross-border
lending was
almost non­existent
and
only done on
a seasonal
basis."
companies to be able to move people
around, both to broaden the experience of
the people who are moving, and also to
resolve problems and take advantage of
opportunities. "
Fugelsang believes that this level of
mobility and adaptability is more likely to be
found in a group of students at Thunderbird
than elsewhere: "Thunderbird has always
been a place to find business people who
are committed to building an international
presence."
Diversity and multicultural experi­ence
are also qualities that Fugeisang
believes sets T'birds off from the
pack. "The diversity of the student
body, the different backgrounds and
the natural international orientation
are still more global and multifaceted
than at most schools. The apprecia­tion
that the U.S. is not the center of
the universe is something that Thun­derbird
got across to me right away."
As much as Fugelsang values those
qualities that have been part of the
Thunderbird experience since its
start, he also believes that Thunder­bird
has continued to change, along
with the world. "Today more lan­guages
are offered and more-sophisti­cated
international financial courses
taught, " notes Fugeisang. "The
School continues to improve. But
that's why Thunderbird is still
around, isn't it?"
-By Jeanene Edwards
George Fugelsang '63
his wife, Marsha, live in Milwaukee, WI.
Jerome A. Raggett, Jr. '70 is manager of
market development in healthcare at Sprint
Communications. He and his wife, Eleanor, live
in Overland Park, KS. William L. Roberts '70
is general manager of Caribbean operations for
Kodak. He lives in Carolina, Puerto Rico.
Austin M. Seay '70 manages marine opera­tions
in the Asian Pacific as vice-president of
Tidewater Inc. He and his wife, Margaret, live
in Singapore; their son and daughter live in the
U.S. James L. Walter '70 works as executive
director of Unity House, Inc. in Honolulu, lll.
Phillip E. Casey '71 is chairman and chief
executive officer at Florida Steel Corp. a mini­mill
based in Tampa, FL. Anthony B. DaSilva
'71 works as international land sales consul­tant
at The Genesis Group. He and his wife,
Sharon, live in Orlando, FL. Robert C.
Dewolfe '71 is CIS regional manager for Tetra­Laval
Oilfield Moscow. He and his wife, Kathy,
live in Houston, TX. Jon B. Dwinell '71 works
as audit group manager at Paccar Financial. He
and his wife, Mary, live in Redmond, WA John
E. Hamilton '71 is marketing director of
Crystal Forwarding, Inc. in Carlsbad, CA
Robert A. McBride '71 received an award for
Academic Excellence from Insurance Institute
of America He works as senior premium audi­tor
at Argonaut Insurance Co and lives with his
wife, Lydia, and their child in Long Beach, CA
Michael J. O'Shaughnessy '71 is the publish­er,
president and owner of Red Cross Books.
He organized the Book Fair in Guadalajara, the
largest publications event of its kind in Latin
America He also works with the State of New
Mexico organizing exhibits featuring the cultur­allife
of New Mexico. He lives with his wife,
Marianne, in Santa Fe. Cristobal R. Orozco
'71 is U.S. Department of State deputy chief-Qf­mission
at the American Embassy in the
Dominican Republic. He and his wife, Mariela,
live in Santo Domingo. Steven Shaw '71 is
president at PDR Mortgage. He lives in
Sausalito, CA Stewart H. Smith '71 is presi­dent
of the restaurant Hayden's, LLC. He and
his wife, Kathy, live in Tucson, AZ. Roby S.
Swan '71 is partner/managing director at CD
Warehouse International, Ltd. in London,
England. Edward C. Auble '72 owns Edward
Auble Associates, an insurance and financial
services firm in Paoli, PA He also taught inter­national
business at Immaculata College for six
years. Chase Ferguson '72 is senior director
of American Express Bank, Ltd. He and his
wife, Isobel, live in Singapore. William
Gambrel '72 is vice-president and general
manager of the First National Bank of Boston.
He lives with his wife, Dilcia, in San Juan,
Puerto Rico. William Hayes '72 is chief exec­utive
officer of Placer Dome, Inc., a gold and
silver mining company. He lives with his wife,
Mariana, in Santiago, Chile. Donald w. Hurst
'72 has earned certification as a Chartered
Financial Analyst (CFA). He lives in
Albuquerque, NM. Lawrence L. Martin '72 is
a professor at Columbia University. He and his
wife, Lella, live in New York City. Thomas R.
McMurry, Jr. '72 works as a controller for
Laflse Corp., a Central American financial ser­vices
company. He and his wife, Maria, live in
Miami, FL. Allen F. <>strole '72 is president of
Ostrofe Financial Consultants, Inc. He and his
wife, Sabine,live in Grass Valley, CA W. Neil
Sabin '72 works for AMFAC Resorts as vice­president
of marketing. He and his wife,
Michele, live in Flagstaff, AZ. Guenter Walz
'72 is managing director at BMW Sverige, AB.
He and his wife, Janice McIntyre, live in
Solna, Sweden. Robin H. Williams '72 is
senior consultant at Lee & Burgess Associates
of Colorado, a human resources consultancy.
He lives in Conifer, CO.
1973-74
Gary E. Adams '73 works as senior project
safety manager at Florida Gas Transmission
Co. He and his wife, Peggy, live in Tallahassee,
FL. Bernard Anderson '73 is president of
Terravest, Inc., a real estate ownership/man­agement
firm, in Scottsdale, AZ. Randall
Bishop '73 is a partner at Bishop & Bishop, a
firm specializing in corporate law and estate
planning. He and his wife, Lorraine Abell,
have four children and live in Pasadena, CA
Christopher T. Morrison '73 is vice-presi­dent
of business development at Inynco
Realty Partners, Inc. He and his wife,
Deborah, live in Coral Gables, FL. Michael
O'Shea '73 is president of Ameco, a firm spe­cializing
in translation and consulting. He and
his wife, Minako, recently relocated from
Tokyo, and now live in Glendale, AZ. Ronald
R. PfafJlln '73 is president of U.S. Agencies
International, Inc., a manufacturers' represen­tative
for the AsialPacific region. He lives in
Saipan. Perry David Smith '73 works as
managing director at Sonoco Asia Corp., a
paper and plastics packaging firm, in Singa­pore.
John Stevens '73 is vice-president of
corporate banking for continental Europe at
Bank of Nova Scotia He lives in W. Byfieet,
England. Richard T. Taylor '73 manages
product development for Serrot Corp., a
waterproofing company. He and his wife live
in Henderson, WV. Peter R. Wallin '73 is
senior vice-president at Socimer Advisory
Services Corp., a Swiss Investment Bank. He
lives with his wife, Sandy, and their four
daughters in Key Biscayne, FL. Daniel F.
Benton '74 works at JP Morgan in New York
City. Thomas Daly '74 is staff attorney at
Inland Counties Legal Services in Indio, CA.
Michael P. Duncan '74 supervises purcha&
ing for Tengizchevroil, an oil company, in
Tengiz, Kazakhstan. David P. Echevarria '74
is an assistant professor of finance at
Saint Joseph's University. He and his
wife, Voncile, live in Kennett Square,
PA. Michael H. McLafferty '74 is
international marketing manager at
Global Spectrum, an international
telecommunications firm. He and his
wife, Karen, live in Miami, FL. Alberto
Montezuma '74 is president of LEK
Industria e Comercio, Ltda., a women's
fashion manufacturer. He lives in Rio de
Janeiro with his wife, Rosalie. Eric R.
Weaver '74 serves at the U.S. Depart-ment
of Commerce as a commercial
attache. He and his wife, Jane, live in
Moscow, Russia
1975
S. Robert August is president of S.
Robert August & Co., Inc., a manage­ment
and marketing consulting firm. He
and his wife, Penny, live in Englewood,
CO. Dan Bariault is direct business
development chairman at The Belhaven
Group, Inc., an electronics R&D firm. He
lives with his wife, Stephanie, in Seattle,
WA Garrett R. Bowden is director at
Marcus & Millichap, Inc., a real estate
planning firm in New York City. John
Chamberlin is private banking regional
manager at Bank of America He lives
with his wife, Jackie, in Rancho Mirage, CA
Roger R. Esser is international sales manager
at Marshalltown Trowel Co. He and his wife,
LaMae, live in Granger, IN. John S. French is
operations vice-president for EMC Express, an
electronic media claims network. He lives with
his wife, Janie, in Carefree, AZ. Paul G.
Knollmaier is dealer development consultant
for Latin America at Caterpillar, Inc. He lives in
Dunlap, lL. Tom J. Landa is assistant treasur-
UPDATES
er at Exxon Company, U.S.A He and his wife,
Denise, live in Katy, TX. Jeremiah B. Lewis
works in sales for my Espresso of the
Americas. He lives with his wife, Nancy, in San
Francisco, CA Ghassan J. Majdalani is inter­national
regional sales manager at Raytheon
Appliance Group. He lives in Ripon, WI.
Kenneth N. May is vice-president and general
manager at Disney Vacation Development, Inc.
He and his wife, Mary Besser, are building a
new house. David W.
Patenge is executive
director at Morgan Stanley
& Co. International, Ltd.
He and his wife, Madeline,
live in London, England.
Jeffrey A. Seip is direc­REUNION
'75
NOVEMBER
1995
tor of finance at lscosh, a subsidiary of
Westinghouse, in Dammam, Saudi Arabia
Dennis L. Stanford is a buyer for Coca-Cola
International. He and his wife, Candace, live in
Pfaeffikon, Switzerland.
1976
James J. Beirne manages recruitment for
General Mills, Inc. in Minneapolis, MN. Bernd
Brand is international vice-president at
Burlington Air Express, Inc. He and his wife,
Erika, live in The Woodlands, TX. Brooks
Fields is loan officer at Northwestern
Mortgage Co. He lives with his wife, Barbara,
in Chandler, AZ. Melanie G. Fleek is knowl­edge
network coordinator at Ernst & Young in
San Jose, CA Steve Graybill is regional
director for KPMG Peat Marwick. He and his
wife, Marla, live in Prague, Czech Republic.
Lynnette Guzzino McFaull is director of the
volunteer lawyer program for the Northern
Kentucky Legal Aid Society. She resides in
Edgewood, Kentucky with her husband,
Roderick. KIrk D. Haws works for Marubeni
Bobcat Sales Company as executive vice-pres­ident.
He lives with his wife, Irene, in
Michael O'Shaughnessy '71,
editor-in-chief of Red Crane
Books, helped organize what
he says is "the largest such event in Latin
America, H the Book Fair in Guadalajara,
Mexico last Nov. 26-0ec.5. The annual
event draws more than 350,000 people
during its 10-day duration, and receives
notable media attention all over Latin
America. Michael worked with the State
of New Mexico and the University of
Guadalajara in putting together an
exhibit that featured the cultural life of
New Mexico.
Yokohama, Japan. Debra A. Hyman is direc­tor
of client services at John Ryan Co., a retail
marketing consultancy for the banking indU&
try. She lives in Madrid, Spain. Leon
Maynard is owner of The Leadership Center
and lives with his wife, Jolene, in Eagle, ID.
Grant P. Miller is vice-president of business
development at Baskin-Robbins International.
He and his wife, Becky, li